Cal. Code Regs. Tit. 10, § 9001 - Additional Definitions

The following definitions shall also apply wherever the terms are used throughout this Chapter:

(a) "ABLE Plan" or "Plan" means the qualified ABLE program established and maintained by the State of California, in accordance with Internal Revenue Code section 529 A.

(b) "Account Owner" means the Eligible Individual for whom the Account is established. The Account Owner is the Designated Beneficiary.

(c) "Authorized Legal Representative" means a person who may act on behalf of the Account Owner with respect to the account if the Account Owner (1) is unable to exercise signature authority over his or her account, or (2) chooses not to exercise signature authority over his or her account. The Authorized Legal Representative may be a parent or legal guardian of the Account Owner or may be a person granted a valid durable power of attorney to manage banking and investment matters on behalf of the Account Owner and to take all necessary actions on behalf of the Account Owner with respect to the account.

(d) "Cash" includes checks, money orders, funds transferred through rollover distributions, payroll deduction plans, automatic contribution plans, and electronic fund transfers.

(e) "Contribution" means cash deposited into an account.

(f) "Distribution" means any disbursement from an account.

(g) "Earnings" means the total account balance on a particular date minus the contributions to the account as of that date.

(h) "IRC" means the Internal Revenue Code.

(i) "Nonqualified Distribution" means a disbursement that is not used for Qualified Disability Expenses or is not a rollover to another qualified ABLE program or account.

(j) "Program Administrator" means the California ABLE Act Board.

(k) "Secretary" means the Secretary of the United States Treasury.

(l) "SSA" means the Social Security Administration.

Notes

Cal. Code Regs. Tit. 10, § 9001

Note: Authority cited: Section 4882, Welfare and Institutions Code. Reference: Sections 4875 and 4877, Welfare and Institutions Code; and Section 529 A, Internal Revenue Code.

1. New section filed 2-21-2017 as a deemed emergency pursuant to Welfare and Institutions Code section 4882(b); operative 2-21-2017 (Register 2017, No. 8). A Certificate of Compliance must be transmitted to OAL by 8-21-2017 or emergency language will be repealed by operation of law on the following day.
2. New section refiled 8-21-2017 as a deemed emergency pursuant to Welfare and Institutions Code section 4882(b); operative 8-21-2017 (Register 2017, No. 34). A Certificate of Compliance must be transmitted to OAL by 11-20-2017 or emergency language will be repealed by operation of law on the following day.
3. Certificate of Compliance as to 8-21-2017 order transmitted to OAL 8-24-2017 and filed 10-5-2017 (Register 2017, No. 40).