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2017 Nebraska Revised Statutes
Chapter 85 - STATE UNIVERSITY, STATE COLLEGES, AND POSTSECONDARY EDUCATION
85-1813 Assets of trust; how treated.
Universal Citation: NE Code § 85-1813 (2017)
85-1813. Assets of trust; how treated.
The assets of the Nebraska educational savings plan trust, including the program fund and excluding the administrative fund and the expense fund, shall at all times be preserved, invested, and expended solely and only for the purposes of the trust and shall be held in trust for the participants and beneficiaries. No property rights in the trust shall exist in favor of the state. Such assets of the trust shall not be transferred or used by the state for any purposes other than the purposes of the trust.
Source
- Laws 2000, LB 1003, § 13;
- Laws 2010, LB197, § 7.
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