Terms Used In Montana Code 53-25-111

• Account: means an eligible participating account established under this chapter by or on behalf of an eligible individual. See Montana Code 53-25-103
• Agent: means one of the following persons acting on behalf of a designated beneficiary:

  (a)a person acting under a power of attorney; or

  (b)if no person holds a power of attorney, a parent or legal guardian of the designated beneficiary. See Montana Code 53-25-103

• 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}
• Department: means the department of public health and human services provided for in 2-15-2201. See Montana Code 53-25-103
• Designated beneficiary: means the eligible individual on whose behalf an account is established. See Montana Code 53-25-103
• Member of the family: means , with respect to a designated beneficiary, a member of the family of the designated beneficiary as defined in section 529A(e)(4) of the Internal Revenue Code, 26 U. See Montana Code 53-25-103
• Rollover distribution: means a transfer of funds made:

  (a)from one account in another state's qualified program to an account for the benefit of the same designated beneficiary or an eligible individual who is a family member of the former designated beneficiary; or

  (b)from one account to another account for the benefit of an eligible individual who is a family member of the former designated beneficiary. See Montana Code 53-25-103