Montana Statutes
§ 15-62-202 — Changes In Designated Beneficiary
Montana·Title 15 TAXATION·Ch. 62 FAMILY EDUCATION SAVINGS ACT·Part 2 Family Education Savings Program Account -- Administration
15-62-202 . Changes in designated beneficiary.
(1)An account owner may change the designated beneficiary of an account to an individual who is a member of the family of the former designated beneficiary in accordance with procedures established by the board.
(2)If requested by an account owner, all or a portion of an account may be transferred to another account of which the designated beneficiary is a member of the family of the designated beneficiary of the transferee account.
(3)Changes in designated beneficiaries and rollovers under this section are not permitted if the changes or rollovers would violate:
(a)the excess contributions provisions adopted by the board pursuant to 20-25-902 ; or
(b)the investment choice provisions of 15-62-201 (5).
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Legislative History
En. Sec. 5, Ch. 540, L. 1997; amd. Sec. 5, Ch. 349, L. 2021.
Nearby Sections
15
§ 15-62-101
Short Title§ 15-62-103
Definitions§ 15-62-202
Changes In Designated Beneficiary§ 15-62-204
Repealed§ 15-62-206
Limitations§ 15-62-207
Deductions For Contributions§ 15-62-209
Access To Records§ 15-62-210
Exemption From Claims Of Creditors§ 15-62-301
Family Education Savings Trust§ 15-62-302
Repealed