C.R.S. Section 23-3.1-307
Limitations


(1)

Nothing in this part 3 shall be construed to:

(a)

Give any designated beneficiary any rights or legal interest with respect to an account unless the designated beneficiary is the account owner;

(b)

Guarantee that a designated beneficiary will be admitted to an education institution or be allowed to continue enrollment at or graduate from an education institution;

(c)

Establish state residency for a beneficiary merely because of the designation as a beneficiary; or

(d)

Guarantee that amounts saved pursuant to the program will be sufficient to cover the qualified higher education expenses or qualified disability expenses of a designated beneficiary, as applicable.

(2)

Nothing in this part 3 shall establish any obligation of the state of Colorado or any agency or instrumentality of the state of Colorado to guarantee for the benefit of any account owner, contributor to an account, or designated beneficiary any of the following:

(a)

The return of any amounts contributed to an account;

(b)

The rate of interest or other return on any account;

(c)

The payment of interest or other return on any account; or

(d)

Tuition rates or the cost of any qualified expenditures.

(3)

Nothing in this part 3 shall be construed to indicate that the account is insured by the state of Colorado or that the principal deposited or investment return is guaranteed by the state of Colorado.

(3.5)

Nothing in this part 3 shall be construed to create an indebtedness, a debt, or a liability of the state, nor shall the state be liable on the savings contracts, except to the extent of the amounts on deposit in the accounts, nor shall a savings contract constitute the giving, pledging, or loaning of the full faith and credit of the state.
(4)(Deleted by amendment, L. 2000, p.1294, § 16, effective May 26, 2000.)

Source: Section 23-3.1-307 — Limitations, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-23.­pdf (accessed Oct. 20, 2023).

23‑3.1‑101
Legislative declaration
23‑3.1‑102
Definitions
23‑3.1‑103
Division created - director - staff
23‑3.1‑103.5
Enterprise status of division
23‑3.1‑104
Duties and powers of division - rules
23‑3.1‑104.5
Additional powers of division
23‑3.1‑104.7
Restructuring plan - legislative declaration
23‑3.1‑106
Student loan program established
23‑3.1‑106.5
Special funds
23‑3.1‑107
Student loan guarantee fund - created
23‑3.1‑108
Age qualification
23‑3.1‑109
Subject to audit
23‑3.1‑110
Designation as sole state agency
23‑3.1‑111
Authority of division to enter into agreements to provide administrative and guarantee services
23‑3.1‑112
Authority and power of the division to guarantee, originate, service, make, and purchase consolidation loans and refinancing loans
23‑3.1‑201
Legislative declaration
23‑3.1‑202
Definitions
23‑3.1‑203
Authority - creation - membership - transfer of personnel
23‑3.1‑204
Organizational meeting - chairperson - conflict of interest
23‑3.1‑205
Meetings of board - quorum - expenses
23‑3.1‑205.3
Transfer of property
23‑3.1‑205.4
Collegeinvest fund - creation - control - use
23‑3.1‑205.5
Collegeinvest - enterprise status
23‑3.1‑205.7
Department of higher education - executive director - powers and duties
23‑3.1‑206
General powers and duties of the authority
23‑3.1‑206.5
Servicing of student obligations and institutional loans
23‑3.1‑206.7
Prepaid expense program
23‑3.1‑206.9
Colorado collegeinvest scholarship program - administration - fund - policies
23‑3.1‑207
Notes
23‑3.1‑208
Bonds
23‑3.1‑209
Negotiability of bonds
23‑3.1‑210
Security for bonds and notes
23‑3.1‑211
Personal liability
23‑3.1‑212
Purchase
23‑3.1‑213
Payment of bonds and advance payment contracts - limited liability of state
23‑3.1‑214
Exemption from taxation - securities law
23‑3.1‑215
Fees
23‑3.1‑216
Investment of funds
23‑3.1‑217
Proceeds as trust funds
23‑3.1‑217.5
Claims of creditors - exemption
23‑3.1‑218
Agreement of the state not to limit or alter rights of obligees
23‑3.1‑219
Enforcement of rights of bondholders
23‑3.1‑220
Bonds eligible for investment
23‑3.1‑221
Account of activities - receipts for expenditures - report - audit
23‑3.1‑222
Federal social security act
23‑3.1‑223
Powers of authority not restricted
23‑3.1‑224
Contract powers of state-supported institutions of higher education - nonliability of state
23‑3.1‑225
Confidentiality of records
23‑3.1‑226
Policies for promotion and disclosure of program information
23‑3.1‑301
Legislative declaration
23‑3.1‑302
Definitions
23‑3.1‑303
Department - purpose - powers - duties
23‑3.1‑304
Authority - purpose - powers - duties
23‑3.1‑305
Financial institutions - managers - purpose - selection - requirements - contracts
23‑3.1‑306
Accounts - contributions - withdrawals - penalties - statements
23‑3.1‑306.5
College kickstarter account program - funding - administration - financial literacy course - rules - legislative declaration - definitions
23‑3.1‑307
Limitations
23‑3.1‑307.1
Personal liability
23‑3.1‑307.3
Proceeds as trust funds
23‑3.1‑307.4
Claims of creditors - exemption
23‑3.1‑307.5
Confidentiality of records
23‑3.1‑307.9
Policies for promotion and disclosure of program information
23‑3.1‑308
Residency
23‑3.1‑309
Tax exemption
23‑3.1‑311
Achieving a better life experience (ABLE) savings program - establishment - authority - powers - duties
Green check means up to date. Up to date

Current through Fall 2024

§ 23-3.1-307’s source at colorado​.gov