Idaho § 33-5407 - Limitations of chapter
Full text of Idaho Idaho Statutes § 33-5407 — Limitations of chapter, with citation guidance and answers to common questions.
§ 33-5407. Limitations of chapter
(1) Nothing in this chapter shall be construed to:
(a) Give any designated beneficiary any rights or legal interest with respect to an account unless the designated beneficiary is the account owner;
(b) Guarantee that a designated beneficiary will be admitted to an eligible education institution or be allowed to continue enrollment at or graduate from an eligible education institution located in this state after admission;
(c) Establish state residency for a person merely because the person is a designated beneficiary;
(d) Guarantee that amounts saved pursuant to the program will be sufficient to cover the qualified higher education expenses of a designated beneficiary.
(2) Nothing in this chapter establishes any obligation of this state or any agency or instrumentality of this state to guarantee for the benefit of any account owner, contributor to an account or designated beneficiary any of the following:
(a) The return of any amounts contributed to an account;
(b) The rate of interest or other return on any account;
(c) The payment of interest or other return on any account;
(d) Tuition rates or the cost of related higher education expenditures.
(3) Under policies adopted by the board, every contract, application, deposit slip or other similar document that may be used in connection with a contribution to an account shall clearly indicate that the account is not insured by this state and neither the principal deposited nor the investment return is guaranteed by this state.
[33-5407, added 2000, ch. 213, sec. 1, p. 580; am. 2008, ch. 275, sec. 4, p. 787.]
Frequently Asked Questions About Idaho § 33-5407
What does Idaho Statutes § 33-5407 cover?
Section 33-5407 ("Limitations of chapter") is part of the Idaho Statutes, the codified statutory law of Idaho. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Idaho § 33-5407?
A common citation format is "Idaho Statutes § 33-5407" (Idaho). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Idaho law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Idaho official source linked on this page or consult a licensed Idaho attorney.
How does Idaho § 33-5407 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Idaho can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Idaho.