Montana § 53-25-113 Limitations

Montana Statutes

§ 53-25-113 — Limitations

Montana·Title 53 SOCIAL SERVICES AND INSTITUTIONS·Ch. 25 DISABILITY INDIVIDUAL SAVINGS ACCOUNT PROGRAM·Part 1 Montana Achieving a Better Life Experience Act

53-25-113 . Limitations.

(1)This chapter may not be construed to establish state residency for a person merely because the person is a designated beneficiary.

(2)This chapter does not establish any obligation of this state or of an agency or instrumentality of this state to guarantee for the benefit of a designated beneficiary, agent, or contributor:

(a)the return of any amounts contributed to an account;

(b)the rate of interest or other return on an account; or

(c)the payment of interest or other return on an account.

(3)Under rules adopted by the department, each contract, application, and offering or disclosure document, and any other type of document identified by the department that may be used in connection with a contribution to an account, must clearly indicate that the accou

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53-25-113 . Limitations. (1) This chapter may not be construed to establish state residency for a person merely because the person is a designated beneficiary.
(2) This chapter does not establish any obligation of this state or of an agency or instrumentality of this state to guarantee for the benefit of a designated beneficiary, agent, or contributor:
(a) the return of any amounts contributed to an account;
(b) the rate of interest or other return on an account; or
(c) the payment of interest or other return on an account.
(3) Under rules adopted by the department, each contract, application, and offering or disclosure document, and any other type of document identified by the department that may be used in connection with a contribution to an account, must clearly indicate that the account is not insured by the state and that the principal deposited and any investment return are not guaranteed by the state.

Montana § 53-25-113 (Limitations) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.