As used in sections 166.400 to 166.455 , except where the context clearly requires another interpretation, the following terms mean: (1) "Beneficiary" , any individual designated by a participation agreement to benefit from payments for qualified education expenses at an eligible educational institution; (2) "Benefits" , the payment of qualified education expenses on behalf of a beneficiary from a savings account during the beneficiary's attendance at an eligible educational institution; (3) "Board" , the Missouri education program board established in section 166.415 ; (4) "Eligible educational institution" , an eligible educational institution as defined in Section 529 of the Internal Revenue Code, as amended; (5) "Financial institution" , a bank, insurance company or registered investment company; (6) "Internal Revenue Code" , the Internal Revenue Code of 1986, as amended; (7) "Missouri education program" or "program" , the program created pursuant to sections 166.400 to 166.455 ; (8) "Participant" , a person who has entered into a participation agreement pursuant to sections 166.400 to 166.455 for the advance payment of qualified education expenses on behalf of a beneficiary; (9) "Participation agreement" , an agreement between a participant and the board pursuant to and conforming with the requirements of sections 166.400 to 166.455 ; and (10) "Qualified higher education expenses" or "qualified education expenses" , the qualified costs of tuition and fees and other expenses for attendance at an eligible educational institution, as defined in Section 529 of the Internal Revenue Code, as amended.
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