Texas Property Code - Section 42.0022. Exemption For College Savings Plans
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Texas Laws > Property Code > Texas Property Code - Section 42.0022. Exemption For College Savings Plans
§ 42.0022. EXEMPTION FOR COLLEGE SAVINGS PLANS. (a) In
addition to the exemption prescribed by Section 42.001, a person's
right to the assets held in or to receive payments or benefits under
any of the following is exempt from attachment, execution, and
seizure for the satisfaction of debts:
(1) any fund or plan established under Subchapter F,
Chapter 54, Education Code, including the person's interest in a
prepaid tuition contract;
(2) any fund or plan established under Subchapter G,
Chapter 54, Education Code, including the person's interest in a
savings trust account; or
(3) any qualified tuition program of any state that
meets the requirements of Section 529, Internal Revenue Code of
1986, as amended.
(b) If any portion of this section is held to be invalid or
preempted by federal law in whole or in part or in certain
circumstances, this section remains in effect in all other respects
to the maximum extent permitted by law.
Added by Acts 2003, 78th Leg., ch. 113, § 1, eff. Sept. 1, 2003.
Section: 41.021 41.022 41.023 41.024 42.001 42.002 42.0021 42.0022 42.003 42.004 42.005 43.001 43.002 44.001 44.002
Last modified: August 11, 2007
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