85-1813 Assets of trust; how treated. - Nebraska Statutes

85-1813. Assets of trust;how treated.The assets of the Nebraska educationalsavings plan trust, including the program fund and excluding the administrative fund and the expense fund, shallat all times be preserved, invested, and expended solely and only for thepurposes of the trust and shall be held in trust for the participants andbeneficiaries. No property rights in the trust shall exist in favor of thestate. Such assets of the trust shallnot be transferred or used by the state for any purposes other than the purposesof the trust. SourceLaws 2000, LB 1003, § 13; Laws 2010, LB197, § 7.Operative Date: July 1, 2010