New Jersey Statutes 18A:71B-41.1. Exemption from claims of creditors for NJBEST accounts
Current as of: 2023 | Check for updates
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Terms Used In New Jersey Statutes 18A:71B-41.1
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Higher education: means that education which is provided by any or all of the public institutions of higher education as herein defined and any or all equivalent private institutions. See New Jersey Statutes 18A:1-1
20. Moneys paid into or out of an NJBEST account by or on behalf of a contributor or designated beneficiary for the purposes of financing the cost of qualified higher education expenses under this article are exempt from all claims of creditors of the contributor or the designated beneficiary.
L.2001,c.262,s.20.