Ch. 382

2003 LAWS OF MARYLAND

(II) THE NAME OF AN ACCOUNT HOLDER OR QUALIFIED
DESIGNATED BENEFICIARY OF AN INVESTMENT ACCOUNT UNDER TITLE 18,
SUBTITLE 19A OF THE EDUCATION ARTICLE.

(2) A custodian:

(i) shall permit inspection by a person in interest; and

(ii) may release information to an eligible institution [designated
in a higher education investment contract in accordance with regulations of the
Maryland Higher Education Investment Program Board.] OF HIGHER EDUCATION
DESIGNATED:

1.       BY AN ACCOUNT HOLDER OF A PREPAID CONTRACT OR
QUALIFIED BENEFICIARY UNDER TITLE 18, SUBTITLE 19A OF THE EDUCATION
ARTICLE; OR

2.       BY AN ACCOUNT HOLDER OR QUALIFIED DESIGNATED
BENEFICIARY UNDER TITLE 18, SUBTITLE 19A OF THE EDUCATION ARTICLE.

Chapter 110 of the Acts of 1997, as amended by Chapter 494 of the Acts of

2000

SECTION 5. AND BE IT FURTHER ENACTED, That the totality of the
marketing efforts undertaken by the [Maryland Higher Education Investment]
COLLEGE SAVINGS PLANS OF MARYLAND Board to market the Maryland Prepaid
College Trust AND THE MARYLAND COLLEGE INVESTMENT PLAN must include full
disclosure that the contract entered into under the provisions of this Act does not
guarantee that the earnings of the assets invested in the [Program] TRUST OR THE
PLAN will generate the difference between the projected costs of [tuition under the
contract] THE QUALIFIED HIGHER EDUCATION EXPENSES and the actual costs at the
time of enrollment.

Chapter 111 of the Acts of 1997, as amended by Chapter 494 of the Acts of

2000

SECTION 5. AND BE IT FURTHER ENACTED, That the totality of the
marketing efforts undertaken by the [Maryland Higher Education Investment]
COLLEGE SAVINGS PLANS OF MARYLAND Board to market the Maryland Prepaid
College Trust AND THE MARYLAND COLLEGE INVESTMENT PLAN must include full
disclosure that the contract entered into under the provisions of this Act does not
guarantee that the earnings of the assets invested in the [Program] TRUST OR THE
PLAN will generate the difference between the projected costs of [tuition under the
contract] THE QUALIFIED HIGHER EDUCATION EXPENSES and the actual costs at the
time of enrollment.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall be
construed to apply to all prepaid contracts purchased and investment accounts
opened before the effective date of this Act.

SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall take
effect July 1, 2003.

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