The following definitions apply to this subchapter:
- (1) "Account administrator" means, in addition to the definition found in 15-61-102, MCA, any person, partnership, limited liability company, limited liability partnership, or corporation that acts as a third-party fiduciary to administer a medical care savings account and is either a bank, savings and loan, credit union, or trust company, a health care insurer, a certified public accountant, or an employer who is self-insured under ERISA.
- (2) "Child" means a son, stepson, daughter, stepdaughter, or legally adopted son or daughter of the taxpayer.
- (3) "Direct transfer" means a withdrawal of all or part of a Montana medical care savings account (MSA) that is deposited in its entirely by means of an electronic bank transfer or by means of check into another Montana MSA.
- (4) "Last business day" means the last day of the account administrator's business year.
- (5) "Inherited account" means funds coming from a Montana medical care savings account (MSA) of a deceased individual, inherited by an immediate family member and contributed to the heir's Montana MSA upon distribution of the estate or as pay-on-death beneficiary of the account.
- (6) "Self-administered" means accounts that are administered by the account holder for their own benefit.
Authorizing statute(s): 15-1-201, 15-30-2620, MCA
Implementing statute(s): 15-61-102, 15-61-201, MCA
History: NEW, 2004 MAR p. 1974, Eff. 8/20/04; AMD, 2010 MAR p. 1088, Eff. 4/30/10; AMD, 2013 MAR p. 178, Eff. 2/1/13; AMD, 2018 MAR p. 851, Eff. 4/28/18.