{"data":{"id":"us-ok/okla.-stat.-tit.-46-46-313","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 46, § 46-313","heading":"Designation of account – Designation of beneficiary","body":"A. After the effective date of this act, any individual may\n\nopen an account with a financial institution and designate the\n\naccount, in its entirety, as a home buyer savings account to be used\n\nto pay or reimburse a qualified beneficiary's eligible costs for the\n\npurchase of a single-family residence in this state.\n\nB. An account holder shall designate, no later than April 15 of\n\nthe year following the tax year during which the account is\n\nestablished, a home buyer as the qualified beneficiary of the home\n\nbuyer savings account. The account holder may designate himself or\n\nherself as the qualified beneficiary and may change the designated\n\nqualified beneficiary at any time; provided, however, there shall\n\nnot be more than one qualified beneficiary at any one time.\n\nC. An individual may jointly own a home buyer savings account\n\nwith another person if the joint account holders file a joint income\n\ntax return.\n\nD. An individual may be the account holder of more than one\n\nhome buyer savings account. However, an account holder cannot have\n\nmultiple accounts that designate the same qualified beneficiary.\n\nE. An individual may be designated as the qualified beneficiary\n\non more than one home buyer savings account.\n\nF. Only cash and marketable securities may be contributed to a\n\nhome buyer savings account. Subject to the limitations of\n\nsubsection B of Section 6 of this act, persons other than the\n\naccount holder may contribute funds to a home buyer savings account.\n\nThere is no limitation on the amount of contributions that may be\n\nmade to or retained in a home buyer savings account.","path":["OK Code","Title 46"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os46.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"d54bbda7f79ccb438d2bcc6320d73b09e1612d0e3086f044c7864f3b466e0e89","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-46-46-312","next":"us-ok/okla.-stat.-tit.-46-46-314"},"notice":"GroundRules: Original legal text. Not legal advice."}