§ 2879d. Property rights to assets in the Plan
The assets of the Vermont Higher Education Investment Plan shall at all times be held in trust for the benefit of the participant, shall not be commingled with any other funds of the Corporation or the State, shall be preserved, invested, and expended solely and only for the purposes set forth in this chapter and in accordance with the participation agreements, and no property rights in them shall exist in favor of the Corporation or the State. Amounts held in, or withdrawn from, a participant’s Investment Plan account under a participation agreement shall not be subject to liens, attachment, garnishment, levy, seizure, claim by creditors of the contributors, participants, or any beneficiary, or subject to any involuntary sale, transfer, or assignment by any execution or any other legal or equitable operation of law, including bankruptcy or insolvency laws. (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.)
Structure Vermont Statutes
Chapter 87 - Grants, Scholarships, and Education Loan Programs
§ 2821. Student Assistance Corporation; purpose
§ 2827. Confidentiality of personally identifying information
§ 2832. Organization and compensation
§ 2835. Controls, audits, and reports
§ 2843. Applications, certificates, and reports
§ 2844. Amount received; proration
§ 2845. Trust fund; grants; students in Department for Children and Families custody
§ 2854. Amount; number; disbursement
§ 2857. Vermont National Guard Tuition Benefit Program
§ 2867. Reserve and pledged equity funds
§ 2868. Notes, bonds, and other obligations
§ 2869. Loan cancellation; mathematics, science, and computer science teachers
§ 2877. Vermont Higher Education Investment Plan created
§ 2878. Participation agreements for Investment Plan
§ 2878a. Participation agreements for Investment Plan; Vermont Matched Savings Program
§ 2879. Investment and payments
§ 2879a. Cancellation of participation agreements
§ 2879b. Effect of payments in computation and determination of financial aid need
§ 2879d. Property rights to assets in the Plan
§ 2879e. Construction and application
§ 2880b. Vermont Universal Children’s Higher Education Savings Account Program Fund
§ 2880c. Initial deposits to the Program Fund
§ 2880e. Withdrawal of Program funds
§ 2880f. Rights of beneficiaries and their families