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Arkansas Code Title 20. Public Health and Welfare § 20-3-110. Prohibitions

Current as of March 28, 2024 | Updated by Findlaw Staff

(a) Total contributions to the ABLE account established on behalf of a particular designated beneficiary in excess of those reasonably necessary to meet the designated beneficiary's qualified disability expenses are prohibited.

(b)(1) An ABLE account or a legal or beneficial interest in an ABLE account shall not be assignable, pledged, or otherwise used to secure or obtain a loan or other advancement.

(2) An ABLE account or a legal or beneficial interest in an ABLE account is not subject to attachment, levy, or execution by a creditor of an ABLE account owner or designated beneficiary.

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Cite this article: FindLaw.com - Arkansas Code Title 20. Public Health and Welfare § 20-3-110. Prohibitions - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-20-public-health-and-welfare/ar-code-sect-20-3-110/

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