Vermont Statutes Title 16 Sec. 2880f
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Terms Used In Vermont Statutes Title 16 Sec. 2880f
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Eligible child: means a minor who is a Vermont resident at the time the Corporation deposits or allocates funds pursuant to this subchapter for his or her benefit. See
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Investment Plan: means the plan created pursuant to subchapter 7 of this chapter. See
- Program: means the Vermont Universal Children's Higher Education Savings Account Program. See
- Program Fund: means the Vermont Universal Children's Higher Education Savings Account Program Fund. See
- State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
§ 2880f. Rights of beneficiaries and their families
(a) A parent or legal guardian shall be allowed to opt out of the Program on behalf of his or her child.
(b) An individual otherwise eligible for any benefit program for elders, persons who are disabled, families, or children shall not be subject to any State resource limit based on funds deposited, allocated, or contributed on behalf of an eligible child or Program beneficiary to the Program Fund or an Investment Plan. (Added 2015, No. 45, § 2.)