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2017 Arkansas Code
Title 20 - Public Health and Welfare
Subtitle 1 - General Provisions
Chapter 3 - Achieving a Better Life Experience Program Act
§ 20-3-105. Administration -- Authority -- Powers
Universal Citation: AR Code § 20-3-105 (2017)
- (a) This chapter shall be administered by the Achieving a Better Life Experience Program Committee, which shall be composed of:
- (1) The Director of the Department of Human Services, or his or her designee;
- (2) The Director of Arkansas Rehabilitation Services of the Department of Career Education and Workforce Development, or his or her designee; and
- (3) The Treasurer of State, or his or her designee.
- (b) The Treasurer of State shall:
- (1) Manage the program under § 20-3-104 for the committee;
- (2) Provide office space, staff, and materials for the committee;
- (3) Perform other services necessary to implement this chapter; and
- (4) Conduct outreach and engage in financial educational activities with individuals with disabilities, stakeholders within the community of individuals with disabilities, and their support system.
- (c) The committee shall adopt rules necessary to administer this chapter and to ensure compliance with the Achieving a Better Life Experience Program as provided under the Tax Increase Prevention Act of 2014, Pub. L. No. 113-295 and federal regulations under the act.
- (d) The committee shall:
- (1) Establish, develop, implement, and maintain the Achieving a Better Life Experience Program in a manner consistent with this chapter and the Achieving a Better Life Experience Program as provided under the Tax Increase Prevention Act of 2014, Pub. L. No. 113-295, and obtain the benefits provided by the Achieving a Better Life Experience Program as provided under the Tax Increase Prevention Act of 2014, Pub. L. No. 113-295, for the program, account owners, and designated beneficiaries;
- (2) Adopt rules for the general administration of the program;
- (3) Maintain, invest, and reinvest the funds contributed into the program consistent with the investment restrictions established by the committee and the standard of care described in the prudent investor rule under § 24-2-611; and
- (4)
- (A) Make and enter into contracts, agreements, or arrangements and retain, employ, and contract for the services of financial institutions, depositories, consultants, broker-dealers, investment advisors or managers, third-party plan administrators, and research, technical, and other services necessary or desirable for carrying out the purposes of this chapter.
- (B) Contracts entered into by the committee may be for a term of one to ten (1-10) years.
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