☰ Revisor of Missouri


Chapter 209

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  209.620.  Cancellation of participation agreement, penalty. — Any participant may cancel a participation agreement at will.  The board shall impose a penalty equal to or greater than ten percent of the earnings of an ABLE account for any distribution that is not:

  (1)  Used exclusively for qualified disability expenses of the designated beneficiary;

  (2)  Made because of death of the designated beneficiary; or

  (3)  Held in the fund for the minimum length of time established by the board.


(L. 2015 S.B. 174 § 166.620)

---- end of effective  28 Aug 2015 ----

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