[§654-8.5  College savings program;
exemptions.]  (a)  Moneys in an account created pursuant to chapter 256 are
exempt from application to the satisfaction of a money judgment as follows:



(1)  One hundred per cent of moneys in an account
established in connection with a scholarship program;



(2)  One hundred per cent of moneys in an account
where the judgment debtor is the account owner and the designated beneficiary
of the account is a minor; and



(3)  An amount not exceeding $10,000 in an account, or
in the aggregate for more than one account, where the judgment debtor is the
account owner of the account or accounts.



(b)  For the purposes of this section, the
terms "account owner" and "designated beneficiary" shall
have the meanings ascribed to them in section 256-1. [L 1999, c 81, §3]