Code of VirginiaTitle 23.1. Institutions of Higher Education; Other Educational and Cultural Institutions12/8/2019 Chapter 7. Virginia College Savings Plan and ABLE Savings Trust AccountsRead Chapter § 23.1-700Definitions § 23.1-701Plan established; moneys; governing board § 23.1-702Advisory committees to the board; membership; terms; qualifications; duties § 23.1-703Chief executive officer of the Plan § 23.1-704Powers and duties of the board § 23.1-705Board actions not a debt of Commonwealth § 23.1-706Standard of care; investment and administration of the Plan § 23.1-707(Effective until October 1, 2019) Prepaid tuition contracts and college and ABLE savings trust agreements § 23.1-707(Effective October 1, 2019) Prepaid tuition contracts and college and ABLE savings trust agreements § 23.1-707.1Prepaid tuition contracts; pricing reserves; limitations § 23.1-708Assets of the Plan exempt from taxation § 23.1-709Annual report § 23.1-710Forms and audit of accounts and records § 23.1-711Admission to institutions not guaranteed; coverage limitations § 23.1-712Payroll deductions § 23.1-713Liberal construction of chapter