Is there a minimum time period during which monies must be held in the account before they can be withdrawn?

Official source

No. Funds may be disbursed to pay Qualified Higher Education Expenses at any time after being deposited. Accounts may be closed at any time after the first deposit; however, (1) if the account has been open less than 12 months and the deposits are invested in the Principal Protection Fund, the refund is limited to deposits made; (2) if the account has been open less than 12 months and the deposits are invested in one of the equity plans, the refund is limited to the redemption value of the account; and (3) any earnings included in the refunded amount become taxable by the federal and state governments and may be subject to a 10% (of earnings) penalty tax imposed by the IRS. Refunds will not include any Earnings Enhancements.

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Is there a minimum time period during which monies must be held in the account before they can be withdrawn?

Official source

No. Funds may be disbursed to pay Qualified Higher Education Expenses at any time after being deposited. Accounts may be closed at any time after the first deposit; however, (1) if the account has been open less than 12 months and the deposits are invested in the Principal Protection Fund, the refund is limited to deposits made; (2) if the account has been open less than 12 months and the deposits are invested in one of the equity plans, the refund is limited to the redemption value of the account; and (3) any earnings included in the refunded amount become taxable by the federal and state governments and may be subject to a 10% (of earnings) penalty tax imposed by the IRS. Refunds will not include any Earnings Enhancements.