Mississippi § 37-155-109 - Savings trust agreements.
Full text of Mississippi Mississippi Code of 1972 Annotated § 37-155-109 — Savings trust agreements., with citation guidance and answers to common questions.
§ 37-155-109. Savings trust agreements.
The board shall make savings trust agreements available to the public, under which account owners or other payors may make contributions on behalf of qualified beneficiaries. Contributions and investment earnings on the contributions may be used for any qualified higher educational expenses of a designated beneficiary. The state does not guarantee that such contributions, together with the investment return on such contributions, if any, will be adequate to pay for qualified education expenses in full. Each savings trust agreement made pursuant to this article shall include the following terms and provisions: The maximum and minimum contribution allowed on behalf of each beneficiary for the payment of qualified higher education expenses at eligible institutions, both as defined in Section 529 of the Internal Revenue Code of 1986, as amended, or other applicable federal law; Provisions for withdrawals, refunds, transfers and any penalties; The name, address and date of birth of the beneficiary on whose behalf the savings trust account is opened; Terms and conditions for a substitution of the beneficiary originally named; Terms and conditions for termination of the account, including any refunds, withdrawals or transfers, and applicable penalties, and the name of the person or persons entitled to terminate the account; The time period during which the beneficiary must use benefits from the savings trust account; All other rights and obligations of the account owner and the MACS Trust Fund; and Any other terms and conditions that the board deems necessary or appropriate, including those necessary to conform the savings trust account with the requirements of Section 529 of the Internal Revenue Code of 1986, as amended, or other applicable federal law or regulations.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 37-155-109
What does Mississippi Code of 1972 Annotated § 37-155-109 cover?
Section 37-155-109 ("Savings trust agreements.") is part of the Mississippi Code of 1972 Annotated, the codified statutory law of Mississippi. 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 Mississippi § 37-155-109?
A common citation format is "Mississippi Code of 1972 Annotated § 37-155-109" (Mississippi). 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 Mississippi law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Mississippi official source linked on this page or consult a licensed Mississippi attorney.
How does Mississippi § 37-155-109 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Mississippi 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 Mississippi.