166.225. Contracts providing for refund of investment income upon cancellation, restrictions. - Missouri Statutes

Contracts providing for refund of investment income upon cancellation,restrictions.

166.225. 1. The trust may offer contracts which providefor the refund of investment income attributable to the fundupon cancellation by the purchaser of the contract.

2. Contracts offered under this section may require thatpayment or payments from a purchaser, on behalf of a qualifiedbeneficiary who may attend a state institution of highereducation in less than four years after the date the contract isentered into by the purchaser, be based upon attendance at acertain state institution of higher education or at that stateinstitution of higher education with the highest prevailingtuition cost for the number of credit hours covered by thecontract.

(L. 1988 H.B. 1456 § 12)