Purpose


This rule is amended to specify the rights of purchasers and co-purchasers for 4-Year Florida University Plans, 2 + 2 Florida Plans, 4-Year Florida College Plans and 2-Year Florida College Plans. The amendment provides that the purchaser’s and co-purchaser’s approval is required for changes of the purchaser, co-purchaser or beneficiary for advance payment contracts which include one of those plans, the purchaser and co-purchaser of those plans each enjoy a survivorship right for each other, the purchaser and co-purchaser must authorize termination of an advance payment contract which includes one of those plans and the purchaser and co-purchaser must approve any refund request associated with a terminated advance payment contract which included one of those plans.