SLS 10RS-1857 ORIGINAL
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
Regular Session, 2010
SENATE BILL NO. 744
BY SENATOR MARIONNEAUX
SEIZURES/SALES. Exempts certain funds in existing qualified tuition programs from
attachment, levy, garnishment or legal process. (8/15/10)
AN ACT1
To amend and reenact R.S. 17:3096(G), relative to monies in certain qualified tuition2
programs and civil procedure; to exempt certain funds from attachment, levy,3
garnishment, or legal process; to provide terms and conditions, and to provide for4
related matters.5
Be it enacted by the Legislature of Louisiana:6
Section 1. R.S. 17:3096(G) is hereby amended and reenacted to read as follows: 7
ยง3096. Education savings accounts; creation, terms, and conditions8
* * *9
G. The right of a beneficiary to the assets of an education savings account10
shall not be subject to and is expressly dispensed from collation, execution,11
garnishment, attachment, the operation of bankruptcy or the insolvency laws or other12
process of law. Monies paid into or out of the assets and the income of any13
validly existing qualified tuition program authorized by Section 529 of the14
Internal Revenue Code of 1986 as amended, including but not limited to an15
education savings account as defined in R.S. 17:3092, shall not be liable to16
attachment, levy, garnishment, or legal process in the state in favor of any17 SB NO. 744
SLS 10RS-1857 ORIGINAL
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
creditor of or claimant against any program participant, owner, or contributor,1
or program.2
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Jerry G. Jones.
DIGEST
Present law authorizes and provides relative to education savings accounts for college.
Provides that such accounts may be opened by certain persons on behalf of a named
beneficiary. Provides incentives.
Present law further provides that the right of a beneficiary to the assets of an education
savings account shall not be subject to and is expressly dispensed from collation, execution,
garnishment, attachment, the operation of bankruptcy or the insolvency laws or other process
of law.
Proposed law retains present law and adds that monies paid into or out of the assets and the
income of any validly existing qualified tuition program authorized by Section 529 of the
Internal Revenue Code of 1986 as amended, including but not limited to an education
savings account as defined in R.S. 17:3092, shall not be liable to attachment, levy,
garnishment, or legal process in the state in favor of any creditor of or claimant against any
program participant, owner or contributor, or program.
Effective August 15, 2010.
(Amends R.S. 17:3096(G))