2015 Delaware Code
Title 16 - Health and Safety
CHAPTER 96A. DELAWARE ACHIEVING A BETTER LIFE EXPERIENCE SAVINGS ACCOUNTS
§ 9605A The Program.

(a) An account may be opened by any person who desires to save to pay the qualified disability expenses of an eligible individual, by making an initial contribution to the Program in accordance with regulations promulgated by the Board.

(b) Any person may make a contribution to an account once an account is opened.

(c) Contributions to an account shall be made only in cash, except where otherwise permitted by the federal ABLE Act.

(d) Separate records and accounting shall be required by the Program for each account and reports shall be made no less frequently than annually to the account owner and the designated beneficiary.

80 Del. Laws, c. 34, § 1.;

§ 9606A Prohibitions.

(a) A designated beneficiary may have only 1 account.

(b) No account nor any interest in an account may be used as security for a loan.

(c) Total contributions on behalf of a designated beneficiary may not exceed the limit established under subchapter XII, Chapter 34 of Title 14.

(d) Except as permitted by the federal ABLE Act, no person shall have the right to direct the investment of any contributions to or earnings from the Program.

80 Del. Laws, c. 34, § 1.;

§ 9607A State and local means-tested programs.

Accounts established pursuant to this chapter shall not be included in determining income eligibility of the designated beneficiary for state or local assistance programs.

80 Del. Laws, c. 34, § 1.;

§ 9608A Limitations on liability.

(a) The Board and each of its members shall be entitled to the immunities set forth in Chapter 40 of Title 10, and in addition, no member of the Board shall be liable for any act or omission made during the member's tenure on the Board, or for any loss incurred by any person as a result of the participation by any Board member in the Program. Further, the State shall indemnify each Board member who is a party to or is threatened to be made a party to any threatened, pending, or completed action, suit, or proceeding, whether civil, criminal, administrative, or investigative, arising by reason of such member's participation in the Program, against any expenses (including attorneys' fees if the Attorney General shall determine that such Board member is not entitled to representation by the State), judgments, fines, and amounts paid in settlement actually and reasonably incurred by that member in connection with such action, suit, or proceeding, if that member acted in good faith and in a manner that member reasonably believed to be in the best interest of the State, and with respect to any criminal action or proceeding, so long as that member had no reasonable cause to believe that the member's conduct was unlawful. Any expenses incurred by such Board member in defending a civil, administrative or investigative action, suit or proceeding shall be paid by the State in advance of the final disposition of such action, suit, or proceeding upon authorization by a majority of the members of the Board and by the Governor of the State.

(b) Neither the Program, the Board and each of its members, nor the State, including the Office of the State Treasurer, shall insure any account or guarantee any rate of return or any interest rate on any contribution; nor shall they or any one of them be liable for any loss incurred by any person as a result of participating in the plan.

80 Del. Laws, c. 34, § 1.;