(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.
Structure Arkansas Code
Title 20 - Public Health and Welfare
Subtitle 1 - General Provisions
Chapter 3 - Achieving a Better Life Experience Program Act
§ 20-3-104. Creation of Achieving a Better Life Experience Program Trust
§ 20-3-107. Investment direction
§ 20-3-109. Naming of designated beneficiary and transfers of ABLE accounts
§ 20-3-111. Funds exempt from tax