{"data":{"id":"us-nc/n.c.-gen.-stat.-147-86.70","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 147-86.70","heading":"Policy and definitions.","body":"(a)\tPolicy. - The General Assembly of North Carolina hereby finds and declares that encouraging and assisting individuals and families in saving private funds for the purpose of supporting individuals with disabilities, as authorized in the federal Achieving a Better Life Experience (ABLE) Act, to maintain health, independence, and a better quality of life is fully consistent with and furthers the long-established policy of the State to provide tools that strengthen opportunities for personal economic development and long-term financial planning.\n(b)\tDefinitions. - The following definitions apply in this section:\n(1)\tABLE account. - An account established and owned by an eligible individual and maintained under this Article. An authorized representative may act on behalf of an account owner.\n(2)\tAccount owner. - The person who enters into an ABLE savings agreement pursuant to the provisions of this Article. The account owner must be the designated beneficiary. An authorized representative may act on behalf of the account owner.\n(2a)\tAuthorized representative. - An individual or entity authorized to open or manage an ABLE account on behalf of an account owner under the provisions of the federal ABLE Act and federal regulations promulgated under the Act.\n(3)\tBoard. - The ABLE Program Board of Trustees established in G.S. 147-86.72.\n(4)\tRepealed by Session Laws 2016-56, s. 9(c), effective June 30, 2016.\n(5)\tDesignated beneficiary. - The eligible individual who established and owns an ABLE account.\n(6)\tDisability certification. - Defined in 26 U.S.C. § 529A(e)(2).\n(7)\tEligible individual. - Defined in 26 U.S.C. § 529A(e)(1).\n(8)\tFederal ABLE Act. - Division B of the Tax Increase Prevention Act of 2014, P.L. 113-295, the Achieving a Better Life Experience Act of 2014.\n(9)\tRepealed by Session Laws 2020-48, s. 1.4(a), effective June 26, 2020, and applicable to actions taken on behalf of an ABLE account owner on or after that date.\n(10)\tQualified disability expense. - Defined in 26 U.S.C. § 529A(e)(5).\n(11)\tReserved for future codification purposes.\n(12)\tReserved for future codification purposes.\n(13)\tSibling. - A brother, sister, stepbrother, or stepsister. (2015-203, s. 1; 2016-56, s. 9(c); 2017-212, s. 3.2(a); 2020-48, s. 1.4(a); 2022-16, s. 5.1.)","path":["Chapter 147. State Officers.","Article 6F. Achieving a Better Life Experience Program Trust."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_147/GS_147-86.70.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:23:17Z","sha256":"a97f5a43445f83f07742104aba50242f8ad6df9bc0e96f17cd750c08914cdc9e","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-147-86.69","next":"us-nc/n.c.-gen.-stat.-147-86.71"},"notice":"GroundRules: Original legal text. Not legal advice."}