Texas § 54.909 USE OF FUND ASSETS.

Texas Statutes

§ 54.909 — USE OF FUND ASSETS.

Texas § 54.909

Code EDEducation Code

This text of Texas § 54.909 (USE OF FUND ASSETS.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Education Code Code Ann. § 54.909 (2026).

Text

Sec. 54.909. USE OF FUND ASSETS. The assets of the program may only be used to:

(1)make distributions to designated beneficiaries;

(2)pay the costs of program administration and operations;

(3)make refunds for cancellations, excess contributions, liquidation under Section 54.908 (d), and death, in accordance with a computation method determined by the board;

(4)roll over funds to another ABLE account to the extent authorized by Section 529A, Internal Revenue Code; and

(5)make distributions to the state as authorized by Section 529A, Internal Revenue Code.

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 54.909. USE OF FUND ASSETS. The assets of the program may only be used to:
(1) make distributions to designated beneficiaries;
(2) pay the costs of program administration and operations;
(3) make refunds for cancellations, excess contributions, liquidation under Section 54.908 (d), and death, in accordance with a computation method determined by the board;
(4) roll over funds to another ABLE account to the extent authorized by Section 529A, Internal Revenue Code; and
(5) make distributions to the state as authorized by Section 529A, Internal Revenue Code.