166.222. Termination of contract, trust to retain payments, when. - Missouri Statutes

Termination of contract, trust to retain payments, when.

166.222. An advance tuition payment contract may providethat, if after a number of years specified in the contract thecontract has not been terminated or the qualified beneficiary'srights under the contract have not been exercised, the trustshall retain the amounts otherwise payable and the rights of thequalified beneficiary, the purchaser, or the agent of eithershall be considered terminated.

(L. 1988 H.B. 1456 § 11)