Section 178.345 - Prohibitions and limitations on accounts for higher education expenses(1) An account and any interest in an account may not be assignable or pledged or otherwise used to secure or obtain a loan or other advancement.(2) The right of a designated beneficiary to the payment of qualified higher education expenses or of an account owner to a withdrawal, payments and withdrawals made in exercise of those rights and moneys or property held within an account shall be exempt from garnishment and may not be subject to execution, attachment or any other process or to the operation of any bankruptcy or insolvency law.(3) A refund of a qualified educational expense payment may not be paid by a higher education institution directly to the designated beneficiary or to the account owner. Any refund of qualified tuition expenses owed by a higher education institution on account of an overpayment of educational expenses must be refunded to the Oregon 529 Savings Network for credit to an account of the designated beneficiary.(4) A qualified withdrawal that is used to pay for qualified higher education expenses must be paid as prescribed by section 529 of the Internal Revenue Code and rules adopted by the Oregon 529 Savings Board.(5) This section applies only to accounts established for qualified higher education expenses.