TITLE 23: EDUCATION AND CULTURAL RESOURCES
CHAPTER XVI: TREASURER
PART 2500 COLLEGE SAVINGS POOL
SECTION 2500.100 DEBT


 

Section 2500.100  Debt

 

a)         The Pool may not incur any indebtedness.  The interests of the account owners and the designated beneficiaries shall not be treated as indebtedness under this Section.

 

b)         No interest in the Pool, or any portion of the Pool, may be used as security for a loan.

 

(Source:  Amended at 45 Ill. Reg. 2052, effective January 29, 2021)