Sec. 54.903. CREATION OF PROGRAM AND ACCOUNT; ADMINISTRATION. (a) The Texas Achieving a Better Life Experience (ABLE) Program is created under this subchapter. The Texas ABLE savings plan account is established as a trust fund outside of the state treasury.
(b) The board shall administer the ABLE program.
(c) The board, the office of the comptroller, and any manager or other contractor that contracts with the board to provide services under this subchapter are not covered entities for purposes of Chapter 181, Health and Safety Code.
Added by Acts 2015, 84th Leg., R.S., Ch. 1213 (S.B. 1664), Sec. 2, eff. June 19, 2015.
Structure Texas Statutes
Subtitle A - Higher Education in General
Subchapter J. Texas Achieving a Better Life Experience (Able) Program
Section 54.901. Purposes of Program
Section 54.903. Creation of Program and Account; Administration
Section 54.904. Powers and Duties of Board
Section 54.9045. Collection of Fees
Section 54.905. Investment of Funds
Section 54.906. Treatment of Assets
Section 54.9065. Exclusion of Able Account Assets From Certain Benefit Eligibility Determinations
Section 54.907. Exemption From Securities Laws
Section 54.908. Participation Agreements
Section 54.9085. Encumbrance or Transfer of Account Prohibited
Section 54.909. Use of Fund Assets
Section 54.910. Designated Beneficiary
Section 54.911. Verification Under Oath
Section 54.914. Confidentiality of Records