166.425. Board to invest funds, use of funds--not deemed income, when. - Missouri Statutes

Board to invest funds, use of funds--not deemed income, when.

166.425. All money paid by a participant in connection withparticipation agreements shall be deposited as received and shall bepromptly invested by the board. Contributions and earnings thereonaccumulated on behalf of participants in the savings program may be used,as provided in the participation agreement, for qualified higher educationexpenses. Such contributions and earnings shall not be considered incomefor purposes of determining a participant's eligibility for financialassistance under any state student aid program.

(L. 1998 H.B. 1694, A.L. 1999 S.B. 460, A.L. 2008 S.B. 863)