The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
007
:
VERMONT HIGHER EDUCATION INVESTMENT PLAN
(Cite as: 16 V.S.A. § 2879d)
-
§ 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 Amounts held in, or withdrawn from, a participant’s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.)