{"data":{"id":"us-ar/ark.-code-ann.-20-3-109","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 20-3-109","heading":"Naming of designated beneficiary and transfers of ABLE accounts","body":"(a) An ABLE account owner shall have the right to name the designated beneficiary of an ABLE account and at any time to change the designated beneficiary of an ABLE account to an eligible individual who is a member of the family of the former designated beneficiary. (b) At the direction of an ABLE account owner, all or a portion of an ABLE account may be transferred to another ABLE account whose designated beneficiary is a member of the family of the designated beneficiary of the transferee ABLE account if the transferee ABLE account was created by this chapter or in accordance with an Achieving a Better Life Experience Program as provided under the Tax Increase Prevention Act of 2014, Pub. L. No. 113-295. (c) (1) Unless prohibited by federal law, upon the death of a designated beneficiary, proceeds from an account may be transferred to: (A) The estate of a designated beneficiary; or (B) An account for another eligible individual specified by the designated beneficiary or the estate of the designated beneficiary. (2) An agency or instrumentality of the state shall not seek payment under 26 U.S.C. § 529A(f) , as in effect on January 1, 2019, from the account or its proceeds for benefits provided to a designated beneficiary. Amended by Act 2019, No. 59,§ 1, eff. 7/24/2019. Added by Act 2015, No. 1238,§ 1, eff. 7/22/2015.\n\n(a) An ABLE account owner shall have the right to name the designated beneficiary of an ABLE account and at any time to change the designated beneficiary of an ABLE account to an eligible individual who is a member of the family of the former designated beneficiary.\n\n(b) At the direction of an ABLE account owner, all or a portion of an ABLE account may be transferred to another ABLE account whose designated beneficiary is a member of the family of the designated beneficiary of the transferee ABLE account if the transferee ABLE account was created by this chapter or in accordance with an Achieving a Better Life Experience Program as provided under the Tax Increase Prevention Act of 2014, Pub. L. No. 113-295.\n\n(c) (1) Unless prohibited by federal law, upon the death of a designated beneficiary, proceeds from an account may be transferred to: (A) The estate of a designated beneficiary; or (B) An account for another eligible individual specified by the designated beneficiary or the estate of the designated beneficiary. (2) An agency or instrumentality of the state shall not seek payment under 26 U.S.C. § 529A(f) , as in effect on January 1, 2019, from the account or its proceeds for benefits provided to a designated beneficiary.\n\n(1) Unless prohibited by federal law, upon the death of a designated beneficiary, proceeds from an account may be transferred to: (A) The estate of a designated beneficiary; or (B) An account for another eligible individual specified by the designated beneficiary or the estate of the designated beneficiary.\n\n(A) The estate of a designated beneficiary; or\n\n(B) An account for another eligible individual specified by the designated beneficiary or the estate of the designated beneficiary.\n\n(2) An agency or instrumentality of the state shall not seek payment under 26 U.S.C. § 529A(f) , as in effect on January 1, 2019, from the account or its proceeds for benefits provided to a designated beneficiary.","path":["AR Code","Title 20","Chapter 3"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_ar_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-17","retrieved_at":"2026-09-17T21:35:43Z","sha256":"ac26525a6f2607e3f02365b4c14415730290d8118cf9f8ffba09f2d63f069cae","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-20-3-108","next":"us-ar/ark.-code-ann.-20-3-110","notices":[{"id":"open-us-law","title":"Open US Law compilation","text":"Compilation CC BY 4.0, Open US Law (Vaquill AI). GroundRules uses only the releases published under CC BY 4.0: from v2026.09 the compilation is licensed CC BY-NC 4.0, and GroundRules does not use those releases. Each affected row names its release in its vintage label. GroundRules parsed and filtered the compilation to retain enacted text.","url":"https://huggingface.co/datasets/vaquill/open-us-law","license_url":"https://creativecommons.org/licenses/by/4.0/"},{"id":"pro-ar","title":"Arkansas Release 78 supplement","text":"Arkansas electronic product files were republished by Public.Resource.Org under a public-domain mark. GroundRules uses enacted text from Release 78 only as a labeled supplement to the newer Open US Law rows.","url":"https://archive.org/details/gov.ar.code"}]},"notice":"GroundRules: Original legal text. Not legal advice."}