Indiana Code 21-9-7-7. Use of funds as loan security prohibited
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Terms Used In Indiana Code 21-9-7-7
- 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
Sec. 7. Funds held in an account of an education savings program that may be established under this article may not be used by an account owner or account beneficiary as security for a loan.
As added by P.L.25-1999, SEC.12. Amended by P.L.135-2002, SEC.24.