Cancellation of agreement, results - penalty.

Mo. Rev. Stat. § 166.430
in effect
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166.430. Cancellation of agreement, results — penalty. — Any participant may cancel a participation agreement at will. The board shall impose a penalty equal to or greater than ten percent of the earnings of an account for any distribution that is not: (1) Used exclusively for qualified education expenses of the designated beneficiary; (2) Made because of death or disability of the designated beneficiary; (3) Made because of the receipt of scholarship by the designated beneficiary; (4) A rollover distribution, as defined in Section 529(c)(3)(C)(i) of the Internal Revenue Code; or (5) Held in the fund for the minimum length of time established by the board. (L. 1998 H.B. 1694, A.L. 1999 S.B. 460, A.L. 2018 S.B. 882)
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://revisor.mo.gov/main/OneSection.aspx?section=166.430Fetched: 10/17/2026
Mo. Rev. Stat. § 166.430 — Cancellation of agreement, results - penalty | Revised Statutes of Missouri (Aug. 2026 snapshot) | Corpus