Section 43-28-9 - Powers of boardIn addition to those powers granted to the board by any other provisions of this chapter, the Mississippi ABLE Board shall have the powers necessary to carry out the purposes and provisions of this chapter, the purposes and objectives of ABLE accounts, and the powers delegated by any other law or executive order of this state, including, but not limited to, the following express powers:
(a) To adopt such rules and regulations as are necessary to implement this chapter, subject to applicable federal laws and regulations, including rules regarding transfers of funds between ABLE accounts established under the provisions of this chapter and independent personal bank accounts;(b) To impose reasonable requirements for beneficiaries or account owners at the time of enrollment in the Mississippi ABLE Program;(c) To consult with the Executive Director of the Department of Rehabilitation Services and the State Treasurer for the department's employment of a Mississippi ABLE Coordinator, who shall:(i) Coordinate meetings of the board and keep minutes of its actions;(ii) Remain informed of developments in federal rules and regulations affecting ABLE accounts and ensure that the Mississippi ABLE Program remains in compliance;(iii) Be authorized to enter into contracts, on behalf of the Mississippi ABLE Board, with records administrators, program managers, consultants and other qualified persons and entities for administrative and technical assistance in carrying out the responsibilities of the Mississippi ABLE Program; and(iv) Perform such other duties as the board may prescribe;(d) To contract for necessary goods and services, to employ necessary personnel, and to engage the services of consultants and other qualified persons and entities for administrative and technical assistance in carrying out the responsibilities of the ABLE account funds under terms and conditions that the board deems reasonable, including contract terms for such consideration, and for such purposes as the board deems advisable;(e) To solicit and accept gifts, including bequests or other testamentary gifts made by will, trust or other disposition grants, loans and other aids from any personal source or to participate in any other way in any federal, state or local governmental programs in carrying out the purposes of this chapter;(f) To define the terms and conditions under which payments may be withdrawn for qualifying expenses established under this chapter and to impose reasonable transaction fees;(g) To serve as an information clearinghouse for the gathering, compilation and dissemination of educational and programmatic materials relating to the design, operation and benefits provided through ABLE accounts and access to entry into the program;(h) To regulate the receipt of contributions or payments to the ABLE Trust Fund;(i) To segregate contributions and payments to the ABLE Trust Fund into various accounts and funds;(j) To require and collect administrative fees and charges in connection with any transaction and to impose reasonable penalties for withdrawal of funds for nonqualified expenses or for entering into a ABLE account agreement on a fraudulent basis;(k) To procure insurance against any loss in connection with the property, assets and activities of the ABLE Trust Fund or the board;(l) To require that account owners of ABLE account agreements verify, under sworn attestation, any requests for contract conversions, substitutions, transfers, cancellations, refund requests or contract changes of any nature;(m) To solicit proposals and to contract for the marketing of the Mississippi ABLE Program, provided that: (i) any materials produced by a marketing contractor for the purpose of marketing the program must be approved by the board before being made available to the public; and(ii) neither the state nor the board shall be liable for misrepresentation of the program by a marketing contractor;(n) To delegate responsibility for administration of the comprehensive investment plan to a contractor or contractors or a consultant or consultants that the board determines is qualified;(o) To make all necessary and appropriate arrangements with vendors, health care service providers, rehabilitation specialists or other entities in order to fulfill its obligations under ABLE account agreements;(p) To establish other policies, procedures and criteria necessary to implement and administer this chapter;(q) To authorize the Department of Rehabilitation Services with the advice of the State Treasurer, to carry out any or all of the powers and duties enumerated in this section for efficient and effective administration of the Mississippi ABLE Program and ABLE Trust Fund;(r) To develop a user-friendly website or access link on the Department of Rehabilitation Services' website to serve as a virtual program and access portal to information about the ABLE Program and how an individual might be able to enroll, whether in the State of Mississippi or in a contracting state with whom Mississippi has entered into a contractual relationship either bilaterally or as part of an ABLE consortium;(s) To provide an ABLE assistance helpline by which those having inquires can be directed to the proper entity for assistance in qualifying and enrolling in an ABLE Program; and(t) To develop and provide an "Account Holder's Bill of Rights" to each individual, who is a Mississippi resident, and who enrolls in the ABLE Program whether such account is managed inside or outside of the state.Added by Laws, 2017, ch. 350, SB 2311, 5, eff. 3/20/2017.