Montana § 15-62-206 - Limitations
Full text of Montana Montana Code Annotated § 15-62-206 — Limitations, with citation guidance and answers to common questions.
§ 15-62-206. Limitations
Limitations. (1) This chapter may not 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 a higher education institution or an elementary or secondary school or be allowed to continue enrollment at or graduate from a higher education institution or an elementary or secondary school located in this state after admission; (c) establish state residency for a person merely because the person is a designated beneficiary; or (d) guarantee that amounts saved pursuant to the program will be sufficient to cover the qualified education expenses of a designated beneficiary. (2) This chapter does not establish any obligation of this state or any agency or instrumentality of the state to guarantee for the benefit of any account owner, contributor to an account, or designated beneficiary: (a) the return of any amounts contributed to an account; (b) the rate of interest or other return on any account; or (c) the payment of interest or other return on any account. (3) Under policies adopted by the board, each contract, application, offering or disclosure document, and any other type of document identified by the board that may be used in connection with a contribution to an account must clearly indicate that the account is not insured by the state and that the principal deposited or the investment return is not guaranteed by the state.
Frequently Asked Questions About Montana § 15-62-206
What does Montana Code Annotated § 15-62-206 cover?
Section 15-62-206 ("Limitations") is part of the Montana Code Annotated, the codified statutory law of Montana. 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 Montana § 15-62-206?
A common citation format is "Montana Code Annotated § 15-62-206" (Montana). 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 Montana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Montana official source linked on this page or consult a licensed Montana attorney.
How does Montana § 15-62-206 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Montana 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 Montana.