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2020 Rhode Island General Laws
Title 42 - State Affairs and Government
Chapter 42-7.2 Office of Health and Human Services
Section 42-7.2-20.4 Contributions to be held in trust. [Contingent effective date; see note.]
Universal Citation: RI Gen L § 42-7.2-20.4 (2020)
§ 42-7.2-20.4. Contributions to be held in trust. [Contingent effective date; see note.]
(a) Funds contributed to the program shall be held in trust in a special account or accounts and shall not be co-mingled with any state funds appropriated by the general assembly for the support of or the programs administered by the executive office.
(b) There shall be separate accounting for each designated beneficiary.
(c) Any designated beneficiary under such program may, directly or indirectly, direct the investment of any contributions to the program (or earnings thereon) no more than the allowable limit of 26 U.S.C. § 529A.
History of Section.
(P.L. 2015, ch. 158, § 1; P.L. 2015, ch. 187, § 1.)
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