Missouri Revised Statutes
Chapter 166
Permanent Funds and Trusts
←166.400
Section 166.410.1
166.415→
August 28, 2015
Definitions.
166.410. As used in sections 166.400 to 166.455, except where the context
clearly requires another interpretation, the following terms mean:
(1) "Beneficiary", any individual designated by a participation agreement
to benefit from payments for qualified higher education expenses at an
eligible educational institution;
(2) "Benefits", the payment of qualified higher education expenses on
behalf of a beneficiary from a savings account during the beneficiary's
attendance at an eligible educational institution;
(3) "Board", the Missouri higher education savings program board
established in section 166.415;
(4) "Eligible educational institution", an institution of postsecondary
education as defined in Section 529(e)(5) of the Internal Revenue Code;
(5) "Financial institution", a bank, insurance company or registered
investment company;
(6) "Internal Revenue Code", the Internal Revenue Code of 1986, as
amended;
(7) "Missouri higher education savings program" or "savings program", the
program created pursuant to sections 166.400 to 166.455;
(8) "Participant", a person who has entered into a participation
agreement pursuant to sections 166.400 to 166.455 for the advance payment of
qualified higher education expenses on behalf of a beneficiary;
(9) "Participation agreement", an agreement between a participant and the
board pursuant to and conforming with the requirements of sections 166.400 to
166.455; and
(10) "Qualified higher education expenses", the qualified costs of
tuition and fees and other expenses for attendance at an eligible educational
institution, as defined in Section 529(e)(3) of the Internal Revenue Code, as
amended.
(L. 1998 H.B. 1694, A.L. 1999 S.B. 460)
Top
Missouri General Assembly
Copyright © Missouri Legislature, all rights reserved.