Montana Code 20-7-1710. Special needs equal opportunity education savings trust
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20-7-1710. Special needs equal opportunity education savings trust. There is a special needs equal opportunity education savings trust that is an instrumentality of the state and that is created for a public purpose. The trust consists of participating trusts with each participating trust corresponding to an account. The assets of one participating trust may not be commingled with the assets of any other participating trust. The assets and earnings of any participating trust may not be used to satisfy the obligations of any other participating trust. Each participating trust account represents a trust interest in the trust and includes interest and investment income earned by the trust account.
Terms Used In Montana Code 20-7-1710
- account: means an account within the trust established in 20-7-1710 in which a payment under 20-7-1709 is deposited on behalf of a qualified student for the purpose of reimbursement for the purchase of allowable educational resources pursuant to 20-7-1704 for qualified students. See Montana Code 20-7-1703
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC