Exemption From Claims Of Creditors

15-62-210 . Exemption from claims of creditors.

# (1)

Except as provided in subsection (3), up to $100,000 of assets and earnings held in and distributions from the trust by or on behalf of an account owner, contributor, or designated beneficiary of a participating trust agreement are exempt from all claims of creditors of the account owner, contributor, or designated beneficiary.

# (2)

Subsection (1) applies to assets and earnings held in and distributions from a qualified tuition program established and maintained by another state as provided by section 529(b)(1)(A)(ii) of the Internal Revenue Code, 26 U.S.C. 529(b)(1)(A)(ii), if the owner, contributor, or designated beneficiary is a Montana resident.

# (3)

Assets, earnings, and distributions are not protected from claims if the contribution violates the Uniform Fraudulent Transfer Act provided for in Title 31, chapter 2, part 3, or 11 U.S.C. 548.

Source: view the official text

In this chapter (15 sections)

Full table of contents →