Number of Purchasers Per Contract

Number of Purchasers Per Contract. Only one individual may be named on the MPACT Application and in the MPACT Contract as the MPACT Contract Purchaser. Joint Purchasers are not permitted. However, if a given Application and Contract purchases less than five (5) years of tuition on behalf of a given Qualified Beneficiary, other persons who qualify as Purchasers as defined herein may purchase an additional Contract(s) for the same Qualified Beneficiary, provided that the total number of years of tuition purchased for the Qualified Beneficiary does not exceed five years as defined in Chapter 11. Each year or multiple of years purchased by a different Purchaser for the same Qualified Beneficiary will be treated as a separate Contract. A Purchaser may change, add, or delete the designated Contingent Purchaser on the MPACT Application or after the MPACT Contract is purchased by submitting a request in such form as deemed acceptable by the State Treasurer.