Texas § 54.910 DESIGNATED BENEFICIARY.

Texas Statutes

§ 54.910 — DESIGNATED BENEFICIARY.

Texas § 54.910

Code EDEducation Code

This text of Texas § 54.910 (DESIGNATED BENEFICIARY.) 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. § 54.910 (2026).

Text

Sec. 54.910. DESIGNATED BENEFICIARY.

(a)The participant is the designated beneficiary and the owner of the ABLE account except as described by Subsection (b) and as otherwise permitted by Section 529A, Internal Revenue Code.

(b)If the designated beneficiary of the account is not able to exercise signature authority over the account, or if a designated beneficiary chooses to establish an account but not exercise signature authority, the parent, legal guardian, or other fiduciary of the beneficiary may serve as the participant if permitted by Section 529A, Internal Revenue Code.

(c)A designated beneficiary may own only one ABLE account, and each ABLE account may have only one owner, except as otherwise permitted by Section 529A, Internal Revenue Code.

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Sec. 54.910. DESIGNATED BENEFICIARY. (a) The participant is the designated beneficiary and the owner of the ABLE account except as described by Subsection (b) and as otherwise permitted by Section 529A, Internal Revenue Code.
(b) If the designated beneficiary of the account is not able to exercise signature authority over the account, or if a designated beneficiary chooses to establish an account but not exercise signature authority, the parent, legal guardian, or other fiduciary of the beneficiary may serve as the participant if permitted by Section 529A, Internal Revenue Code.
(c) A designated beneficiary may own only one ABLE account, and each ABLE account may have only one owner, except as otherwise permitted by Section 529A, Internal Revenue Code.

Legislative History

Added by Acts 2015, 84th Leg., R.S., Ch. 1213 (S.B. 1664 ), Sec. 2, eff. June 19, 2015. Amended by: Acts 2019, 86th Leg., R.S., Ch. 527 (S.B. 1184 ), Sec. 1, eff. June 7, 2019.