Missouri § 166.502 - Definitions.
Full text of Missouri Revised Statutes of Missouri § 166.502 — Definitions., with citation guidance and answers to common questions.
§ 166.502. Definitions.
As used in sections 166.500 to 166.529, except where the context clearly requires another interpretation, the following terms mean:
(1) "Beneficiary", any individual designated by a participation agreement to benefit from payments for qualified higher education expenses at an eligible educational institution;
(2) "Benefits", the payment of qualified higher education expenses on behalf of a beneficiary from a deposit account during the beneficiary's attendance at an eligible educational institution;
(3) "Board", the Missouri education program board established in section 166.415;
(4) "Eligible educational institution", an institution of postsecondary education as defined in Section 529(e)(5) of the Internal Revenue Code;
(5) "Financial institution", a depository institution and any intermediary that brokers certificates of deposits;
(6) "Internal Revenue Code", the Internal Revenue Code of 1986, as amended;
(7) "Missouri higher education deposit program" or "deposit program", the program created pursuant to sections 166.500 to 166.529;
(8) "Participant", a person who has entered into a participation agreement pursuant to sections 166.500 to 166.529 for the advance payment of qualified higher education expenses on behalf of a beneficiary;
(9) "Participation agreement", an agreement between a participant and the board pursuant to and conforming with the requirements of sections 166.500 to 166.529;
(10) "Qualified higher education expenses", the qualified costs of tuition and fees and other expenses for attendance at an eligible educational institution, as defined in Section 529(e)(3) of the Internal Revenue Code of 1986, as amended.
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(L. 2004 H.B. 959 § 166.510, A.L. 2018 S.B. 882, A.L. 2021 H.B. 297)
---- end of effective 28 Aug 2021 ----
Frequently Asked Questions About Missouri § 166.502
What does Revised Statutes of Missouri § 166.502 cover?
Section 166.502 ("Definitions.") is part of the Revised Statutes of Missouri, the codified statutory law of Missouri. 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 Missouri § 166.502?
A common citation format is "Revised Statutes of Missouri § 166.502" (Missouri). 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 Missouri law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Missouri official source linked on this page or consult a licensed Missouri attorney.
How does Missouri § 166.502 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Missouri 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 Missouri.