Before becoming eligible to receive matching funds to pay for qualified purposes, individual development account owners shall complete a financial literacy education course offered by a qualified financial institution, a qualified fiduciary organization, an Indian tribe, or a governmental entity in accordance with federal guidelines.
Structure Code of Alabama
Chapter 14 - Individual Development Account Program.
Section 38-14-1 - Definitions.
Section 38-14-2 - Establishment of Account.
Section 38-14-3 - Matching Funds.
Section 38-14-4 - Withdrawals and Reimbursements.
Section 38-14-5 - Financial Literacy Education.
Section 38-14-6 - Source of Deposits; Limitations on Deposits.
Section 38-14-7 - Exclusion From Gross Income.
Section 38-14-8 - Selection of Fiduciary Organizations.
Section 38-14-9 - Administration of Accounts.
Section 38-14-10 - Eligibility for Means-Tested Public Benefits.