Title XII PUBLIC HEALTH AND WELFARE Chapter 209 • Effective - 28 Aug 2015 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)
Missouri Legal Code