College Savings Iowa $529 Daycare Giveaway
March 1, 2012 - March 31, 2012
Winners: ALLISON S, Audrey E, Bianca N, Riley B, Zoe M
Each winner will receive five hundred and twenty nine U.S. dollars ($529) in the form of a newly established College Savings Iowa (CSI) 529 account (the “Prize”). The account will be invested in accordance with the rules of CSI and investment expenses and losses may result. The administrator of CSI shall remain the owner of the account. Investment selection shall be made at the discretion of the administrator of CSI provided, however, that the administrator may, in its sole discretion, request and implement investment direction from the beneficiary (if over 18) or the beneficiary’s parent or guardian. Account statements will be provided, upon request, to the beneficiary (if over 18) and/or the beneficiary’s parent or guardian. Distributions may be used solely to pay tuition and fees at an accredited post-secondary educational institution in which the beneficiary is enrolled and in good standing. All distributions shall be made directly to the institution for the benefit of the beneficiary. In the event the beneficiary does not attend an accredited post-secondary educational institution, or otherwise does not request qualifying distributions from the CSI account, the beneficiary (if over 18) and/or the beneficiary’s parent or guardian may designate a member of his or her family (as defined under Section 529) as alternate beneficiary. All potential winners are subject to eligibility verification by the Sponsor, whose decisions are final and binding in all matters related to the Giveaway. An entrant is not a winner of the Prize unless and until the entrant’s eligibility has been verified and the entrant has been notified that verification is complete. The Prize is non-transferrable. The Sponsor is responsible only for delivery of the Prize and is not responsible for Prize utility or otherwise. The Giveaway does not take into account a winner's personal circumstances or other factors that may be important in making investment decisions. Investment returns are not guaranteed and the winner could lose money by investing in the CSI account. Each winner should consult his or her own tax advisor about tax implications, if any, associated with the Prize and contributions and/or withdrawals from the CSI account. The Prize may be considered income, and any and all taxes associated with the Prize are the responsibility of the winner. All rules of CSI, to the extent deemed applicable by the administrator, shall be in effect. Account must be established within two months of date of award and funds must be distributed prior to the beneficiary's 25th birthday.