Section 46-905 - Program requirementsA. The program shall require:1. A designated beneficiary to have only one account.2. A designated beneficiary to direct the investment of any contributions to the program or any earnings not more than two times in any calendar year.3. Contributions to accounts to be made only in cash.4. That any excess contributions with respect to a designated beneficiary be rejected pursuant to 26 United States Code section 529A and any regulations issued pursuant to that section.B. Contributions to and earnings on a designated beneficiary's account in this or any other state shall not be counted as income or resources of the designated beneficiary for the purposes of eligibility for any program under this title or title 36, chapter 29.C. Subject to any outstanding payments due for qualified disability expenses, on the death of the designated beneficiary, a claim may be filed for payment of all amounts remaining in the account not in excess of the amount equal to the total medical assistance paid for the designated beneficiary after establishment of the account as authorized by 26 United States Code section 529A and any regulations issued pursuant to that section.D. An account may be opened by a designated beneficiary by completing an application in the form prescribed by the department. Separate records and accounting shall be maintained for each account for each designated beneficiary.E. A designated beneficiary may not use an interest in an account as security for a loan. Any pledge of an interest in an account is of no force and effect.F. The financial institution shall provide statements to each designated beneficiary at least once each year within thirty-one days after the twelve-month period to which they relate. The statement shall identify the contributions made during a preceding twelve-month period, the total contributions made through the end of the period, the value of the account as of the end of this period, distributions made during this period and any other matters that the department requires be reported to the account owner.G. Statements and information returns relating to accounts shall be prepared and filed to the extent required by federal or state law.H. Any social security numbers, addresses or telephone numbers of designated beneficiaries that come into the possession of the department are confidential, are not public records and shall not be released by the department.Added by L. 2016, ch. 214,s. 5, eff. 8/5/2016.