§ 2879.
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/vt/title-16/chapter-87/2879A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 2879. Investment and payments
All money paid by a participant in connection with a participation agreement shall be credited to the participant’s account as received, held by the Corporation in trust for the benefit of the participant, and shall be promptly invested by the Corporation as selected by the participant from the investment options available under the participation agreement. Contributions and earnings accumulated in a participant’s Investment Plan account may be used as provided in the participation agreement, including for payments of qualified postsecondary education costs.
The trust shall continue in existence as long as it holds any funds belonging to a participant. (Added 1997, No. 79 (Adj. Sess.), § 1, eff. July 1, 1997; amended 2001, No. 58, § 4, eff. June 16, 2001; 2019, No. 154 (Adj. Sess.), § E.605.4, eff. Oct. 2, 2020.)