PocketLaw | Michigan Compiled Laws | 160 of 2015 - Michigan Achieving

160 of 2015 - Michigan Achieving a Better Life Experience (Able) Program Act (206.981 - 206.997)

Checkout our iOS App for a better way to browser and research.

Section
206.981

Short Title.

Section
206.982

Definitions.

Section
206.983

Michigan Able Savings Program; Establishment; Program Manager; Purposes, Powers, and Duties of State Treasurer or Designee; Selection of Program Managers; Proposals; Factors; Duties of Treasurer and Program Manager; Contract.

Section
206.984

Management Contract; Supervision.

Section
206.985

Management Contract; Term of Years; Termination.

Section
206.986

Contracts as Necessary and Proper.

Section
206.987

Able Savings Accounts; Establishment; Opening of Account by Individual or Designated Representative; Agreement; Form; Contents; Contributions; Exemption From Creditor Process; Distributions; Separate Accounting.

Section
206.988

Changes in Account Owners or Designated Beneficiaries; Transfers.

Section
206.989

Directing Investment of Contributions in Violation of Internal Revenue Code; Prohibition; Administrative Services; Use of Interest as Loan Security.

Section
206.990

Maximum Account Balance Limit.

Section
206.991

Submission of Certain Information to Internal Revenue Service, Department, and Account Owner.

Section
206.992

Disclosure of Information to Account Owner and Other Person Requesting Information.

Section
206.993

Construction and Interpretation of Act and Agreement.

Section
206.994

State Obligation.

Section
206.995

Annual Report.

Section
206.996

Tax Exemption.

Section
206.997

Consideration of Financial Circumstances for Purpose of Assistance Program; Effect of Able Savings Account.