Iowa Code 12I.5 – Cancellation of agreements
Current as of: 2024 | Check for updates
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Terms Used In Iowa Code 12I.5
- Account owner: means an individual who is the designated beneficiary under a participation agreement under this chapter for the payment of qualified disability expenses on behalf of the designated beneficiary. See Iowa Code 12I.1
- Participation agreement: means an agreement establishing an account with the trust. See Iowa Code 12I.1
An account owner may cancel a participation agreement at will. Upon cancellation of a participation agreement, an account owner shall be entitled to the return of the account owner’s account balance.