This text of New Mexico § 6-8A-2 (Definitions) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
As used in the Accounts for Persons with Disabilities Act: A. "account" means an individual tax-free savings account for a designated beneficiary that is established pursuant to Section 529A of the Internal Revenue Code of 1986, as amended; B. "account owner" means a person who establishes and owns an account under the Accounts for Persons with Disabilities Act and who is one of the following:
(1)the designated beneficiary of the account;
(2)the parent, guardian or conservator of a minor designated beneficiary; or (3) the conservator of a designated beneficiary otherwise incapable of handling such beneficiary's financial affairs; C. "designated beneficiary" means a person for whom an account is established under the Accounts for Persons with Disabilities Act; D. "disability certification
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As used in the Accounts for Persons with Disabilities Act: A. "account" means an individual tax-free savings account for a designated beneficiary that is established pursuant to Section 529A of the Internal Revenue Code of 1986, as amended; B. "account owner" means a person who establishes and owns an account under the Accounts for Persons with Disabilities Act and who is one of the following: (1) the designated beneficiary of the account; (2) the parent, guardian or conservator of a minor designated beneficiary; or (3) the conservator of a designated beneficiary otherwise incapable of handling such beneficiary's financial affairs; C. "designated beneficiary" means a person for whom an account is established under the Accounts for Persons with Disabilities Act; D. "disability certification" means a certification deemed sufficient by the United States secretary of the treasury to establish a certain level of physical or mental impairment that meets the requirements of Section 529A of the Internal Revenue Code of 1986, as amended; E. "eligible person" means, for a taxable year, a person who is either: (1) entitled during that taxable year to benefits based on blindness or disability under Title 2 or Title 16 of the federal Social Security Act; provided that such blindness or disability occurred before the date on which the individual attained age forty-six; or (2) the subject of a disability certification filed with the United States secretary of the treasury; F. "family member" means a sibling, whether by blood or adoption, including a brother, sister, stepbrother, stepsister, half-brother or half-sister; G. "fiduciary" means a person authorized to do business in New Mexico and acting as a fiduciary to manage and invest an account; provided that such person is bonded and is not the parent, guardian or conservator of the designated beneficiary of the account; H. "financial organization" means an organization that is authorized to do business in New Mexico and is: (1) licensed or chartered by the office of superintendent of insurance; (2) licensed or chartered by the financial institutions division of the regulation and licensing department; or (3) subject to the jurisdiction of the federal securities and exchange commission; I. "office" means the office of the state treasurer; J. "qualified disability expenses" means any expenses, related to the designated beneficiary's blindness or disability, that include the following: (1) education; (2) housing; (3) transportation; (4) employment training and support; (5) assistive technology and personal support services; (6) health, prevention and wellness; (7) financial management and administrative services; (8) legal fees; (9) expenses for oversight and monitoring; (10) funeral and burial expenses; and (11) other expenses approved by the United States secretary of the treasury; and K. "qualified program" means a program established and maintained by the state or an agency or instrumentality of the state pursuant to 26 U.S.C. Section 529A.