Common use of Necessity of Qualification Clause in Contracts

Necessity of Qualification. The Plan intends to qualify for favorable federal tax treatment under Section 529. Because this qualification is vital to the Plan, the Board may modify the Plan or amend this Participation Agreement at any time if the Board decides that the change is needed to meet the requirements of Section 529 or the regulations administered by the IRS pursuant to Section 529, Nevada State law, or applicable rules or regulations promulgated by the Board or to ensure the proper administration of the Plan.

Necessity of Qualification. The Plan intends to qualify for favorable federal xxxxx- al tax treatment under Section 529. Because this qualification is vital to the Plan, the Board may modify the Plan or amend this Plan and/or Participation Agreement at any time if the Board decides that the change is needed to meet the requirements re- quirements of Section 529 or the regulations administered by the IRS Internal Revenue Service pursuant to Section 529, Nevada State law, or applicable rules or regulations promulgated by the Board or to ensure the proper administration ad- ministration of the Plan.

Necessity of Qualification. The Plan intends to qualify for favorable federal tax treatment under Section 529. Because this qualification is vital to the Plan, the Board Bank may modify the Plan or amend this Participation Agreement at any time if the Board Bank decides that the change is needed to meet the requirements of Section 529 or the regulations administered by the IRS pursuant to Section 529, Nevada North Dakota State law, or applicable rules or regulations promulgated by the Board Bank, or to ensure the proper administration of the Plan.

Necessity of Qualification. The Plan intends to qualify for favorable federal tax treatment under Section 529. Because this qualification is vital to the Plan, the Board may modify the Plan or amend this Participation Agreement at any time if the Board decides that the change is needed to meet the requirements of Section 529 or the regulations administered by the IRS Internal Revenue Service pursuant to Section 529, Nevada State law, or applicable rules or regulations promulgated by the Board or to ensure the proper administration of the Plan.

Necessity of Qualification. The Plan intends to qualify for favorable federal fed- eral tax treatment under Section 529. Because this qualification is vital to the Planplan, the Board may modify the Plan or amend this Plan and/or Participation Agreement at any time if the Board decides that the change is needed to meet the requirements require- ments of Section 529 or the regulations administered by the IRS Internal Rev- enue Service pursuant to Section 529, Nevada State law, or applicable rules or regulations promulgated by the Board or to ensure the proper administration administra- tion of the Plan.