Louisiana Revised Statutes Tit. 17, § 3100.7. Termination of depositor's agreements; refund; conversion of the account to money; transfers

C. If the beneficiary is the recipient of a scholarship, waiver of tuition, or similar subvention that the authority determines cannot be converted into money by the beneficiary, the authority shall, during each academic term that the beneficiary furnishes the authority such information about the scholarship, waiver, or similar subvention as the authority requires, refund to the person designated in the owner's agreement an amount from the owner's education savings account equal to the value of the scholarship, waiver, or similar subvention awarded to the beneficiary. The authority may, at its sole option, designate the school at which the beneficiary is enrolled as the agent of the authority for purposes of refunds pursuant to this Subsection.

D. If, in any academic term for which withdrawals from the education savings account have been used to pay all or part of a beneficiary's qualified education expenses, the beneficiary withdraws from the school at which the beneficiary is enrolled prior to the end of the academic term, a pro rata share of any refund of the qualified education expenses resulting from the beneficiary's withdrawal from the school, equal to that portion of the qualified education expenses paid by disbursements from the education savings account, shall be made to the authority, unless the authority designates a different procedure. The authority shall credit any refund to the appropriate education savings account.

E. An account owner may transfer or roll over any amount from an education savings account created pursuant to Chapter 22-A of this Title to an education savings account created pursuant to this Chapter without penalty.