Iowa Code Title I. State Sovereignty and Management [Chs. 1-38D] § 12I.6. Repayment and ownership of payments and investment income--transfer of ownership rights

2. In the event the trust is terminated prior to payment of qualified disability expenses for the designated beneficiary, the account owner is entitled to a refund of the account owner's account balance.

3. Any amounts which may be paid to any person or persons pursuant to the Iowa ABLE savings plan trust but which are not listed in this section are owned by the trust.

4. An account owner may transfer ownership rights to another designated beneficiary, including a gift of the ownership rights to a designated beneficiary who is a minor, in accordance with rules adopted by the treasurer of state and the terms of the participation agreement, so long as the transfer would be permitted by section 529A of the Internal Revenue Code.  1

5. An account owner or designated beneficiary shall not be entitled to utilize any interest in the trust as security for a loan.