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Arkansas Code of 1987 (2023)
Title 20 - PUBLIC HEALTH AND WELFARE (§§ 20-2-101 — 20-86-113)
Subtitle 1 - GENERAL PROVISIONS (§§ 20-2-101 — 20-3-113)
Chapter 3 - ACHIEVING A BETTER LIFE EXPERIENCE PROGRAM ACT (§§ 20-3-101 — 20-3-113)
Section 20-3-110 - Prohibitions

Universal Citation:
AR Code § 20-3-110 (2023)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
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  • (a) Total contributions to the ABLE account established on behalf of a particular designated beneficiary in excess of those reasonably necessary to meet the designated beneficiary's qualified disability expenses are prohibited.
  • (b)
    • (1) An ABLE account or a legal or beneficial interest in an ABLE account shall not be assignable, pledged, or otherwise used to secure or obtain a loan or other advancement.
    • (2) An ABLE account or a legal or beneficial interest in an ABLE account is not subject to attachment, levy, or execution by a creditor of an ABLE account owner or designated beneficiary.

Added by Act 2015, No. 1238,§ 1, eff. 7/22/2015.

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