34 Tex. Admin. Code § 7.185 - Participant
(a) The participant must be the designated
beneficiary or a fiduciary authorized by law to act on behalf of the designated
beneficiary, including a parent, guardian, or trustee. The Board may limit the
types of fiduciaries allowed to be participants.
(b) Because a designated beneficiary is
limited to one ABLE account, the participant who applies for enrollment must
have the legal authority to act on behalf of a beneficiary. The Board may
determine who has legal authority to apply for enrollment on behalf of a
designated beneficiary, and may require written consent from individuals who
have legal authority to act on behalf of a beneficiary.
(c) A participant who is not the designated
beneficiary may not have or acquire a beneficial interest in an
account.
(d) A participant who is
not the designated beneficiary must administer the account for the benefit of
the designated beneficiary.
Notes
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