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Terms Used In Maryland Code, EDUCATION 18-19C-06

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • state: means :

    (1) a state, possession, territory, or commonwealth of the United States; or

    (2) the District of Columbia. See
(a) The Board, the Maryland ABLE Program, and the ABLE accounts issued under this subtitle are not subject to the provisions of the Insurance Article.

(b) The assets and income of the Maryland ABLE Program are exempt from State and local taxation.