New Hampshire Revised Statutes 195-K:3 – ABLE Savings Plan
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I. (a) The state treasurer and the executive director shall, as needed, issue requests for proposals to evaluate and determine the vehicle for investments of the savings plan and its administration.
(b) The state treasurer and the executive director shall consider and, if appropriate, give preference to proposals best meeting the following criteria:
(1) Ability to administer financial programs with individual account maintenance and reporting.
(2) Ability to develop and administer an investment program of a nature similar to the objectives of the ABLE savings plan.
(c) The final selection of the vehicle for investments and its administration shall be made by the state treasurer and the executive director.
(d) The state treasurer and the executive director may consider and contract with an ABLE savings account program previously established in another state.
II. The savings plan may be on a “cash only” basis, and may include provisions for automatic deductions.
III. The savings plan or such trust may be divided into multiple investment portfolios. If so divided, and if distinct records are maintained for any such portfolio and the assets associated with any such portfolio are accounted for separately from the other assets of the trust, then the debts, liabilities, obligations, and expenses incurred, contracted for, or otherwise existing with respect to a particular portfolio may be enforceable against the assets of such portfolio only, and not against the assets of the trust generally.
(b) The state treasurer and the executive director shall consider and, if appropriate, give preference to proposals best meeting the following criteria:
Terms Used In New Hampshire Revised Statutes 195-K:3
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
- following: when used by way of reference to any section of these laws, shall mean the section next preceding or following that in which such reference is made, unless some other is expressly designated. See New Hampshire Revised Statutes 21:13
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
(1) Ability to administer financial programs with individual account maintenance and reporting.
(2) Ability to develop and administer an investment program of a nature similar to the objectives of the ABLE savings plan.
(c) The final selection of the vehicle for investments and its administration shall be made by the state treasurer and the executive director.
(d) The state treasurer and the executive director may consider and contract with an ABLE savings account program previously established in another state.
II. The savings plan may be on a “cash only” basis, and may include provisions for automatic deductions.
III. The savings plan or such trust may be divided into multiple investment portfolios. If so divided, and if distinct records are maintained for any such portfolio and the assets associated with any such portfolio are accounted for separately from the other assets of the trust, then the debts, liabilities, obligations, and expenses incurred, contracted for, or otherwise existing with respect to a particular portfolio may be enforceable against the assets of such portfolio only, and not against the assets of the trust generally.