Texas Education Code 54.909 – Use of Fund Assets
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Terms Used In Texas Education Code 54.909
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
The assets of the program may only be used to:
(1) make distributions to designated beneficiaries;
(2) pay the costs of program administration and operations;
(3) make refunds for cancellations, excess contributions, liquidation under § 54.908(d), and death, in accordance with a computation method determined by the board;
(4) roll over funds to another ABLE account to the extent authorized by Section 529A, Internal Revenue Code; and
(5) make distributions to the state as authorized by Section 529A, Internal Revenue Code.