Arizona Revised Statutes Title 15. Education § 15-1873. Treasurer;  powers and duties;  AZ529, Arizona's education savings plan trust fund

1. Develop and implement the plan in a manner consistent with this article by adopting rules, guidelines and procedures.

2. Retain professional services, if necessary, including accountants, auditors, consultants and other experts.

3. Seek rulings and other guidance from the United States department of the treasury and the internal revenue service relating to the plan.

4. Make changes to the plan required for the participants in the plan to obtain the federal income tax benefits or treatment provided by section 529 of the internal revenue code.  1

5. Interpret, in rules, policies, guidelines and procedures, this article broadly in light of its purpose and objectives.

6. Charge, impose and collect administrative fees and service charges in connection with any agreement, contract or transaction relating to the plan.

7. Negotiate and select the financial institution or institutions to act as the depository and manager of the plan in accordance with this article.  On approval by the board, the treasurer may use existing investment funds established pursuant to §§ 35-314.03, 35-316 and 35-326 for this purpose.

8. Maintain the plan on behalf of this state as required by section 529 of the internal revenue code.

9. Enter into tuition savings agreements with account owners pursuant to this article.