166.240. Contract not subject to regulation as a security, may not be transferred without prior approval of trust. - Missouri Statutes

Contract not subject to regulation as a security, may not betransferred without prior approval of trust.

166.240. An advance tuition payment contract is not asecurity subject to regulation by the state as such under theprovisions of chapter 409, RSMo. An advance tuition contractmay not be sold or otherwise transferred by the purchaser orqualified beneficiary without the prior approval of the trust,which consent shall not be unreasonably withheld.

(L. 1988 H.B. 1456 § 18)