{"data":{"id":"us-dc/d.c.-code-47-4507","jurisdiction":"us-dc","citation":"D.C. Code § 47-4507","heading":"Program limitations.","body":"(a)\nNothing in this chapter shall be construed to:\n(1)\nConfer upon a designated beneficiary rights or legal interest with respect to an account unless the designated beneficiary is the account owner;\n(2)\nGuarantee that a designated beneficiary will be admitted to an institution of higher education;\n(3)\nCreate residency for an individual merely because the individual is a designated beneficiary; or\n(4)\nGuarantee that amounts saved under the Program will be sufficient to cover the qualified higher education expenses of a designated beneficiary.\n\n(b)\nNothing in this chapter shall create, or be construed to create, an obligation or guarantee of the District of Columbia, its agencies or instrumentalities, or the Chief Financial Officer, for the benefit of an account owner or designated beneficiary with respect to:\n(1)\nThe rate of interest or other return on an account; and\n(2)\nThe payment of interest or other return on an account.\n\n(c)\nEvery contract, application, deposit slip, or other similar document that may be used in connection with a contribution to an account shall clearly indicate that the account is not insured by the District of Columbia and that the principal deposited to, or the investment return on, an account is not guaranteed by the District of Columbia.","path":["Title 47. Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title]","Chapter 45. College Savings Program."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/47-4507","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"cc4f92d9bb9261d4008bef1616060e80e46e8ca7c067e3798193dfc093d6a6e8","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-47-4506","next":"us-dc/d.c.-code-47-4508"},"notice":"GroundRules: Original legal text. Not legal advice."}