Missouri Laws 456.006 – Health savings account, trust may be created, when
1. Where a trust or custodial account constitutes a health savings account, as defined under 26 U.S.C. § 223(d)(1)*, a trust may be created by any of the following:
(1) A transfer of moneys to the trustee or custodian holding such trust or custodial account;
Terms Used In Missouri Laws 456.006
- 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
- following: when used by way of reference to any section of the statutes, mean the section next preceding or next following that in which the reference is made, unless some other section is expressly designated in the reference. See Missouri Laws 1.020
- Trustee: A person or institution holding and administering property in trust.
(2) The documentation of the creation of such trust or custodial account in the records of the trustee or custodian holding such trust or custodial account; or
(3) The execution of a trust or custodial agreement with respect to such trust or custodial account.
2. In any case, a trust or custodial account shall be deemed to have been established on the first day on which the individual who is the beneficiary of such trust or custodial account is an eligible individual, as defined under 26 U.S.C. § 223(c)(1), in that calendar year in which such trust or custodial account is created in accordance with this section.