Mo. Rev. Stat. § 209.620

Current with changes from the 2024 Legislative Session

Section 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.

§ 209.620, RSMo

L. 2015S.B. 174 § 166.620