77-1426. Assets of trust; how treated.
98 words·~1 min read·
/ne/chapter-77/77-1426A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The assets of the Nebraska educational savings plan trust, including the program fund and excluding the administrative fund and the expense fund, shall at all times be preserved, invested, and expended solely and only for the purposes of the trust and shall be held in trust for the participants and beneficiaries. No property rights in the trust shall exist in favor of the state. Assets of the trust, including the program fund, the administrative fund, and the expense fund, shall not be transferred or used by the state for any purposes other than the purposes of the trust.