{"data":{"id":"us-mo/mo.-rev.-stat.-166.514","jurisdiction":"us-mo","citation":"Mo. Rev. Stat. § 166.514","heading":"Cancellation of agreements, penalty.","body":"Any participant may cancel a participation agreement at will. The board shall impose a penalty equal to or greater than ten percent of the earnings of an account for any distribution that is not:\n(1) Used exclusively for qualified higher education expenses of the designated beneficiary;\n(2) Made because of death or disability of the designated beneficiary;\n(3) Made because of the receipt of scholarship by the designated beneficiary;\n(4) A rollover distribution, as defined in Section 529(c)(3)(C)(i) of the Internal Revenue Code; or\n(5) Held in the fund for the minimum length of time established by the board.","path":["Title XI - EDUCATION AND LIBRARIES","Chapter 166 - Permanent Funds and Trusts"],"source_url":"https://revisor.mo.gov/main/OneSection.aspx?section=166.514","current_through":"2026 legislative session (floor)","vintage":"","retrieved_at":"2026-09-03T22:23:25Z","sha256":"f2d68e4971fa3503015c9c551838d8d74dd1f34df9e56160c9c9c9a84a1b5075","source_id":"us-mo","stale":false,"prev":"us-mo/mo.-rev.-stat.-166.511","next":"us-mo/mo.-rev.-stat.-166.517"},"notice":"GroundRules: Original legal text. Not legal advice."}