Common use of UGMA or UTMA accounts Clause in Contracts

UGMA or UTMA accounts. A custodian for a minor under a state UGMA or UTMA statute may liquidate the assets held in the UGMA or UTMA account to open an account in the Plan, subject to the laws of the state under which the UGMA or UTMA account was established. If the custodian of an UGMA or UTMA account establishes an account, the minor for whose benefit the assets are held must be designated as the account owner and Beneficiary of the account, and the custodian will not be permitted to change the Beneficiary of the account or transfer assets to another Beneficiary. The custodian will be required to certify on a withdrawal form stating that the distribution from the UGMA or UTMA account will be used for the benefit of the Beneficiary of the account. When the Beneficiary reaches the age of majority under the applicable state UGMA or UTMA statute and the custodianship terminates, the Beneficiary will become the sole account owner with complete control over the account. The custodian is required to notify the Program Manager when the minor attains the age of majority under the applicable state UGMA or UTMA statute. All contributions once made to an UGMA or UTMA account, regardless of their source, become subject to the limitations described above at the time of their contribution into an UGMA or UTMA account. The conversion of non-cash UGMA or UTMA assets to cash for contribution to a NEST Advisor Plan account may be a taxable transaction. Before liquidating assets in an UGMA or UTMA account in order to contribute them to an account, you should review the potential tax and legal consequences with your tax and legal advisors. Moreover, none of the Treasurer, the Program Manager, or the Plan assumes responsibility to ensure, or will incur any liability for failing to ensure, that a custodian applies assets held under an UGMA or UTMA custodianship for proper purposes. Transfers from a Upromise® by Xxxxxx Xxx® Account If you are enrolled in the Upromise service, you can link that account to your NEST Advisor Plan account and have all or a portion of your savings automatically transferred to your NEST Advisor Plan from your Upromise® by Xxxxxx Xxx® Account on a periodic basis. The minimum amount for an automatic transfer made from a Upromise® by Xxxxxx Xxx® Account to your Plan account is $25. However, you cannot use the transfer of funds from a Upromise® by Xxxxxx Xxx® Account as the initial funding

UGMA or UTMA accounts. A custodian for a minor under a state UGMA or UTMA statute may liquidate the assets held in the UGMA or UTMA account to open contribute to an account in the Plan, subject to the laws of the state under which the UGMA or UTMA account was established. If the custodian of an UGMA or UTMA account establishes an account, the minor for whose benefit the assets are held must be designated as the account owner and Beneficiary of the account, and the custodian will not be permitted to change the Beneficiary of the account or transfer assets to another Beneficiary. The custodian will be required to certify on a withdrawal form stating that the distribution from the UGMA or UTMA account will be used for the benefit of the Beneficiary of the account. When the Beneficiary reaches the relevant age of majority under the applicable state UGMA or UTMA statute and the custodianship terminates, the Beneficiary will become the sole account owner with complete control over the account. The custodian is required to notify the Program Manager and submit an Account Owner Change Form when the minor attains the relevant age of majority under the applicable state UGMA or UTMA statute. All contributions once made to an UGMA or UTMA account, regardless of their source, become subject to the limitations described above at the time of their contribution into an UGMA or UTMA account. The conversion of non-cash UGMA or UTMA assets to cash for contribution to a NEST Advisor Plan account may be a taxable transaction. Before liquidating assets in an UGMA or UTMA account in order to contribute them to an account, you should review the potential tax and legal consequences with your tax and legal advisors. The Nebraska State Treasurer, the Nebraska Investment Council and the Program Manager and its affiliates and employees are not in the business of providing tax or legal advice to taxpayers. Moreover, none of the Nebraska State Treasurer, the Program Manager, Manager or the Plan assumes responsibility to ensure, or will incur any liability for failing to ensure, that a custodian applies assets held under an UGMA or UTMA custodianship for proper purposes. Transfers Contributions from GiftED You may invite family and friends to contribute to your account through GiftED. After your account is established, log in to your account on the Plan’s website and select “Gifting.” Follow the online instructions to send e-mail invitations to family and friends. Any gift contributions will be invested according to your Standing Allocation for the applicable account. The individual making the gift contribution does not maintain any control over the contribution after the funds have been contributed. Contribution date Contributions are considered received on the date the contribution is reviewed and processed by the Program Manager or its authorized agents. Contributions to an account that are received in good order before the market close (typically 3:00 p.m. Central Time) on any day the New York Stock Exchange (NYSE) is open for business are generally processed on that day for the Investment Options you selected. Contributions to an account that are received in good order after market close, or on a Upromise® day the NYSE is closed for business, generally will be processed on the next business day. Contributions sent by Xxxxxx Xxx® Account If you U.S. mail that are enrolled postmarked on or before December 31 will be treated as having been made in that year even if the check was actually received by the Program Manager or its authorized agents in the Upromise servicenext year, you can link provided the checks are subsequently cleared. For EFT contributions, for tax purposes, the contributions will be considered in that account to your NEST Advisor Plan account and have all year if the EFT was initiated on or a portion before December 31 of your savings automatically transferred to your NEST Advisor Plan such year, provided the funds are successfully deducted from your Upromise® checking or savings account by Xxxxxx Xxx® Account your financial institution. Regardless of the calendar year for which a contribution is deductible, the trade date of the contribution (and thus the price of the units purchased with the contribution) will be determined based on the day the contribution is received by the Program Manager or its authorized agents in good order, and with respect to AIP contributions you will receive the trade date of the business day on which the debit occurs. For EFT contributions, the following applies: • Before 3:00 p.m. Central Time will be given a periodic basistrade date of that business day and will be effective at that day’s closing price for the applicable Investment Option. The minimum amount In such cases, the EFT debit from your bank account will occur on the next business day after the request is received; or • After 3:00 p.m. Central Time will be given a trade date of the next business day after the date the request is received, and they will be effective at that day’s closing price for an automatic transfer made from a Upromise® by Xxxxxx Xxx® Account to your Plan account the applicable Investment Option. In such cases, the EFT debit will occur on the second business day after the request is $25. However, you cannot use the transfer of funds from a Upromise® by Xxxxxx Xxx® Account as the initial fundingreceived.

UGMA or UTMA accounts. A custodian for a minor under a state UGMA or UTMA statute may liquidate the assets held in the UGMA or UTMA account to open contribute to an account in the Plan, subject to the laws of the state under which the UGMA or UTMA account was established. If the custodian of an UGMA or UTMA account establishes an account, the minor for whose benefit the assets are held must be designated as the account owner and Beneficiary of the account, and the custodian will not be permitted to change the Beneficiary of the account or transfer assets to another Beneficiary. The custodian will be required to certify on a withdrawal form stating that the distribution from the UGMA or UTMA account will be used for the benefit of the Beneficiary of the account. When the Beneficiary reaches the relevant age of majority under the applicable state UGMA or UTMA statute and the custodianship terminates, the Beneficiary will become the sole account owner with complete control over the account. The custodian is required to notify the Program Manager and submit an Account Owner Change Form, when the minor attains the relevant age of majority under the applicable state UGMA or UTMA statute. All contributions once made to an UGMA or UTMA account, regardless of their source, become subject to the limitations described above at the time of their contribution into an UGMA or UTMA account. The conversion of non-cash UGMA or UTMA assets to cash for contribution to a NEST Advisor Plan account may be a taxable transaction. Before liquidating assets in an UGMA or UTMA account in order to contribute them to an account, you should review the potential tax and legal consequences with your tax and legal advisors. Moreover, none of the Treasurer, the Program Manager, State Farm or the Plan assumes responsibility to ensure, or will incur any liability for failing to ensure, that a custodian applies assets held under an UGMA or UTMA custodianship for proper purposes. Transfers Contributions from a Upromise® by Xxxxxx Xxx® Account If you are enrolled in the Upromise service, you can link that account GiftED You may invite family and friends to contribute to your NEST Advisor Plan account and have all or a portion of through GiftED. After your savings automatically transferred account is established, log in to your NEST Advisor Plan account on the Plan’s website and select “Gifting.” Follow the online instructions to send e-mail invitations to family and friends. Any gift contributions will be invested according to your Standing Allocation for the applicable account. The individual making the gift contribution does not maintain any control over the contribution after the funds have been contributed. Contribution date Contributions are considered received on the date the contribution is reviewed and processed by the Program Manager or its authorized agents. Contributions to an account that are received in good order before the market close (typically 3:00 p.m. Central Time) on any day the New York Stock Exchange (NYSE) is open for business are generally processed on that day for the Investment Options you selected. Contributions to an account that are received in good order after market close, or on a day the NYSE is closed for business, generally will be processed on the next business day. Contributions received through the National Securities Clearing Corporation or through certain financial institutions must be made in accordance with settlement procedures agreed to by the financial institution and the Program Manager. Contributions sent by U.S. mail that are postmarked on or before December 31 will be treated as having been made in that year even if the check was actually received by the Program Manager or its authorized agents the next year, provided the checks are subsequently cleared. For EFT contributions, for tax purposes, the contributions will be considered in that year if the EFT was initiated on or before December 31 of such year, provided the funds are successfully deducted from your Upromise® checking or savings account by Xxxxxx Xxx® Account your financial institution. Regardless of the calendar year for which a contribution is deductible, the trade date of the contribution (and thus the price of the units purchased with the contribution) will be determined based on the day the contribution is received by the Program Manager or its authorized agents in good order, and with respect to AIP contributions you will receive the trade date of the business day on which the debit occurs. For EFT contributions, the following applies: • Before 3 p.m. Central Time will be given a periodic basistrade date of that business day and will be effective at that day’s closing price for the applicable Investment Option. The minimum amount In such cases, the EFT debit from your bank account will occur on the next business day after the request is received; or • After 3 p.m. Central Time will be given a trade date of the next business day after the date the request is received, and they will be effective at that day’s closing price for an automatic transfer made from a Upromise® by Xxxxxx Xxx® Account to your Plan account the applicable Investment Option. In such cases, the EFT debit will occur on the second business day after the request is $25. However, you cannot use the transfer of funds from a Upromise® by Xxxxxx Xxx® Account as the initial fundingreceived.

UGMA or UTMA accounts. A custodian for a minor under a state UGMA or UTMA statute may liquidate the assets held in the UGMA or UTMA account to open contribute to an account in the Plan, subject to the laws of the state under which the UGMA or UTMA account was established. If the custodian of an UGMA or UTMA account establishes an account, the minor for whose benefit the assets are held must be designated as the account owner and Beneficiary of the account, and the custodian will not be permitted to change the Beneficiary of the account or transfer assets to another Beneficiary. The custodian will be required to certify on a withdrawal form stating that the distribution from the UGMA or UTMA account will be used for the benefit of the Beneficiary of the account. When the Beneficiary reaches the relevant age of majority under the applicable state UGMA or UTMA statute and the custodianship terminates, the Beneficiary will become the sole account owner with complete control over the account. The custodian is required to notify the Program Manager and submit an Account Owner Change Form, when the minor attains the relevant age of majority under the applicable state UGMA or UTMA statute. All contributions once made to an UGMA or UTMA account, regardless of their source, become subject to the limitations described above at the time of their contribution into an UGMA or UTMA account. The conversion of non-cash UGMA or UTMA assets to cash for contribution to a NEST Advisor Plan account may be a taxable transaction. Before liquidating assets in an UGMA or UTMA account in order to contribute them to an account, you should review the potential tax and legal consequences with your tax and legal advisors. Moreover, none of the Treasurer, the Program Manager, Manager or the Plan assumes responsibility to ensure, or will incur any liability for failing to ensure, that a custodian applies assets held under an UGMA or UTMA custodianship for proper purposes. Transfers Contributions from NEST GiftED You may invite family and friends to contribute to your account through NEST GiftED. After your account is established, log in to your account at XXXX000.xxx and select “Gifting.” Follow the online instructions to send e-mail invitations to family and friends. Any gift contributions will be invested according to your Standing Allocation for the applicable account. The individual making the gift contribution does not maintain any control over the contribution after the funds have been contributed. Contribution date Contributions are considered received on the date the contribution is reviewed and processed by the Program Manager or its authorized agents. Contributions to an account that are received in good order before the market close (typically 3:00 p.m. Central Time) on any day the New York Stock Exchange (NYSE) is open for business are generally processed on that day for the Investment Options you selected. Contributions to an account that are received in good order after market close, or on a Upromise® day the NYSE is closed for business, generally will be processed on the next business day. Contributions sent by Xxxxxx Xxx® Account If you U.S. mail that are enrolled postmarked on or before December 31 will be treated as having been made in that year even if the check was actually received by the Program Manager or its authorized agents in the Upromise servicenext year, you can link provided the checks are subsequently cleared. For EFT contributions, for tax purposes, the contributions will be considered in that account to your NEST Advisor Plan account and have all year if the EFT was initiated on or a portion before December 31 of your savings automatically transferred to your NEST Advisor Plan such year, provided the funds are successfully deducted from your Upromise® checking or savings account by Xxxxxx Xxx® Account your financial institution. Regardless of the calendar year for which a contribution is deductible, the trade date of the contribution (and thus the price of the units purchased with the contribution) will be determined based on the day the contribution is received by the Program Manager or its authorized agents in good order, and with respect to AIP contributions you will receive the trade date of the business day on which the debit occurs. For EFT contributions, the following applies: • Before 3:00 p.m. Central Time will be given a periodic basistrade date of that business day and will be effective at that day’s closing price for the applicable Investment Option. The minimum amount In such cases, the EFT debit from your bank account will occur on the next business day after the request is received; or • After 3:00 p.m. Central Time will be given a trade date of the next business day after the date the request is received, and they will be effective at that day’s closing price for an automatic transfer made from a Upromise® by Xxxxxx Xxx® Account to your Plan account the applicable Investment Option. In such cases, the EFT debit will occur on the second business day after the request is $25. However, you cannot use the transfer of funds from a Upromise® by Xxxxxx Xxx® Account as the initial fundingreceived.

UGMA or UTMA accounts. A custodian for a minor under a state UGMA or UTMA statute may liquidate the assets held in the UGMA or UTMA account to open contribute to an account in the Plan, subject to the laws of the state under which the UGMA or UTMA account was established. If the custodian of an UGMA or UTMA account establishes an account, the minor for whose benefit the assets are held must be designated as the account owner and Beneficiary of the account, and the custodian will not be permitted to change the Beneficiary of the account or transfer assets to another Beneficiary. The custodian will be required to certify on a withdrawal form stating that the distribution from the UGMA or UTMA account will be used for the benefit of the Beneficiary of the account. When the Beneficiary reaches the relevant age of majority under the applicable state UGMA or UTMA statute and the custodianship terminates, the Beneficiary will become the sole account owner with complete control over the account. The custodian is required to notify the Program Manager and submit an Account Owner Change Form when the minor attains the relevant age of majority under the applicable state UGMA or UTMA statute. All contributions once made to an UGMA or UTMA account, regardless of their source, become subject to the limitations described above at the time of their contribution into an UGMA or UTMA account. The conversion of non-cash UGMA or UTMA assets to cash for contribution to a NEST Advisor Plan account may be a taxable transaction. Before liquidating assets in an UGMA or UTMA account in order to contribute them to an account, you should review the potential tax and legal consequences with your tax and legal advisors. Moreover, none of the Treasurer, the Program Manager, Manager or the Plan assumes responsibility to ensure, or will incur any liability for failing to ensure, that a custodian applies assets held under an UGMA or UTMA custodianship for proper purposes. Transfers Contributions from NEST GiftED You may invite family and friends to contribute to your account through NEST GiftED. After your account is established, log in to your account at XXXX000Xxxxxxx.xxx and select “Gifting.” Follow the online instructions to send e-mail invitations to family and friends. Any gift contributions will be invested according to your Standing Allocation for the applicable account. The individual making the gift contribution does not maintain any control over the contribution after the funds have been contributed. Contribution date Contributions are considered received on the date the contribution is reviewed and processed by the Program Manager or its authorized agents. Contributions to an account that are received in good order before the market close (typically 3:00 p.m. Central Time) on any day the New York Stock Exchange (NYSE) is open for business are generally processed on that day for the Investment Options you selected. Contributions to an account that are received in good order after market close, or on a Upromise® day the NYSE is closed for business, generally will be processed on the next business day. Contributions received through the National Securities Clearing Corporation or through certain financial institutions must be made in accordance with settlement procedures agreed to by Xxxxxx Xxx® Account If you the financial institution and the Program Manager. Contributions sent by U.S. mail that are enrolled postmarked on or before December 31 will be treated as having been made in that year even if the check was actually received by the Program Manager or its authorized agents in the Upromise servicenext year, you can link provided the checks are subsequently cleared. For EFT contributions, for tax purposes, the contributions will be considered in that account to your NEST Advisor Plan account and have all year if the EFT was initiated on or a portion before December 31 of your savings automatically transferred to your NEST Advisor Plan such year, provided the funds are successfully deducted from your Upromise® checking or savings account by Xxxxxx Xxx® Account your financial institution. Regardless of the calendar year for which a contribution is deductible, the trade date of the contribution (and thus the price of the units purchased with the contribution) will be determined based on the day the contribution is received by the Program Manager or its authorized agents in good order, and with respect to AIP contributions you will receive the trade date of the business day on which the debit occurs. For EFT contributions, the following applies: • Before 3:00 p.m. Central Time will be given a periodic basistrade date of that business day and will be effective at that day’s closing price for the applicable Investment Option. The minimum amount In such cases, the EFT debit from your bank account will occur on the next business day after the request is received; or • After 3:00 p.m. Central Time will be given a trade date of the next business day after the date the request is received, and they will be effective at that day’s closing price for an automatic transfer made from a Upromise® by Xxxxxx Xxx® Account to your Plan account the applicable Investment Option. In such cases, the EFT debit will occur on the second business day after the request is $25. However, you cannot use the transfer of funds from a Upromise® by Xxxxxx Xxx® Account as the initial fundingreceived.