Minnesota § 354B.30 PROHIBITION ON LOANS OR PRETERMINATION DISTRIBUTIONS

Minnesota Statutes

§ 354B.30 — PROHIBITION ON LOANS OR PRETERMINATION DISTRIBUTIONS

Minnesota § 354B.30

PartRETIREMENT

Ch. 354BHIGHER EDUCATION INDIVIDUAL RETIREMENT ACCOUNTS

This text of Minnesota § 354B.30 (PROHIBITION ON LOANS OR PRETERMINATION DISTRIBUTIONS) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 354B.30 (2026).

Text

(a)No participant may obtain a loan from the plan or obtain any distribution from the plan at a time before the participant terminates the employment that gave rise to plan coverage.

(b)No amounts to the credit of the plan are assignable either in law or in equity, or are subject to execution, levy, attachment, garnishment, or other legal process, except as provided in section518.58,518.581, or518A.53.

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(a) No participant may obtain a loan from the plan or obtain any distribution from the plan at a time before the participant terminates the employment that gave rise to plan coverage.
(b) No amounts to the credit of the plan are assignable either in law or in equity, or are subject to execution, levy, attachment, garnishment, or other legal process, except as provided in section518.58,518.581, or518A.53.