us-tx/regs
34 Tex. Admin. Code § 7.197 — Program Limitations
(a)
Nothing in this Program or in any participation agreement entered into under this Program may be construed to guarantee that amounts saved under the Program will be sufficient to cover the qualified disability expenses of a designated beneficiary.
(b)
Nothing in this Program or in any participation agreement entered into under this Program may be construed to create any obligation of the State of Texas, any agency or instrumentality of the State of Texas, financial institution or plan manager to guarantee for the benefit of a participant:
(1) the return of any amount contributed to an account;
(2) the rate of interest or other return on an account; or
(3) the payment of interest or other return on an account.
(c)
An ABLE account is not insured by the State of Texas. The principal deposited into an ABLE account is not guaranteed by the State of Texas. The investment return of an ABLE account is not guaranteed by the State of Texas.
(d)
The participant is fully responsible for any impact an ABLE account might have on the designated beneficiary's eligibility for Supplemental Security Income, Medicaid, or other public benefits.
(e)
The participant is fully responsible for notifying and providing the Program with accurate account information, including current mailing address, necessary for delivery of account statements, notices, or correspondence.
Source Note: The provisions of this §7.197 adopted to be effective September 12, 2016, 41 TexReg 7111.
Source: official text