38 Miss. Code. R. 3-18.2
The Purchaser of an MPACT Contract may be any Entity approved, in writing, by the State Treasurer. Contracts opened by Entities, IRS Section 501(c)(3) organizations, trusts and custodians are subject to additional restrictions and may be required to provide documentation evidencing the legal status of the Entity and the authorization of the representative to enter into and administer an MPACT Contract. UGMA/UTMA custodians are also subject to certain limitations on their ability to make changes to, and transfer to and from, such Contracts. UGMA/UTMA custodians and trust representatives should consult a tax advisor about the tax consequences of opening and holding a Contract, as well as legal counsel regarding their rights and responsibilities as custodians and representatives.
38 Miss. Code. R. 3-18.2