Delaware § 4007 Withdrawal of a participant; surplus trust funds

Delaware Statutes

§ 4007 — Withdrawal of a participant; surplus trust funds

Delaware·Title 12·Part Fiduciary Relations·Ch. 40 DELAWARE CAREPLAN TRUST ACT

(a)The Board is directed to develop standards and procedures for the withdrawal of a participant from the Delaware CarePlan Trust.

(1)A participant may withdraw from the Delaware CarePlan Trust. The death of a participant shall constitute a withdrawal from the Delaware CarePlan Trust.

(2)The Board may determine that a participant must withdraw from the Delaware CarePlan Trust.

(b)Upon the withdrawal of a participant from the Delaware CarePlan Trust, the Board may release from the Delaware CarePlan Trust all or any portion of the participant’s surplus trust assets.

(c)The Delaware CarePlan Trust may use surplus trust funds for purposes including, but not limited to, qualifying a person with a disability as a participant, reducing the charges for the cost of administration and for a

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(a) The Board is directed to develop standards and procedures for the withdrawal of a participant from the Delaware CarePlan Trust.

(1) A participant may withdraw from the Delaware CarePlan Trust. The death of a participant shall constitute a withdrawal from the Delaware CarePlan Trust.

(2) The Board may determine that a participant must withdraw from the Delaware CarePlan Trust.

(b) Upon the withdrawal of a participant from the Delaware CarePlan Trust, the Board may release from the Delaware CarePlan Trust all or any portion of the participant’s surplus trust assets.

(c) The Delaware CarePlan Trust may use surplus trust funds for purposes including, but not limited to, qualifying a person with a disability as a participant, reducing the charges for the cost of administration and for any other purpose that is consistent with this chapter.

(d) The Delaware CarePlan Trust may not use a participant’s surplus trust funds to make any charitable contribution on behalf of any participant or class of participants.

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