{"data":{"id":"us-or/ors-458.680","jurisdiction":"us-or","citation":"ORS 458.680","heading":"Persons qualifying as account holders.","body":"(1) A person who qualifies to become an account holder may enter into an agreement with a fiduciary organization for the establishment of an individual development account.\n      (2) To become an account holder a person must, in addition to meeting any other qualifications, be a member of a lower income household that has a net worth of less than $20,000.\n      (3) Every account holder, with support from the fiduciary organization, shall develop a personal development plan to advance account holder self-reliance. The personal development plan must include appropriate coaching, mentorship, social support, financial adequacy training and asset-specific training designed to increase the independence of the person and the person’s household through achievement of the account’s approved purpose.\n      (4) Notwithstanding subsection (1) of this section, a fiduciary organization may refuse to allow a qualified person to establish an account if establishment of the account would result in the members of a lower income household having more than one account. Notwithstanding subsection (1) of this section, a fiduciary organization shall refuse to allow a qualified person to establish an account if establishment of the account would result in the members of a lower income household having more than two accounts.","path":["13 - Housing, Games, Environment","36A. Housing; Lottery and Games; Environment","Chapter 458 — Housing and Community Services Programs; Individual Development Accounts"],"source_url":"https://www.oregonlegislature.gov/bills_laws/ors/ors458.html","current_through":"2025 Edition","vintage":"","retrieved_at":"2026-09-03T23:50:14Z","sha256":"f703729bda718862b2bd91530f197e198a65c43b12ed8967a89b102b869cfc82","source_id":"us-or","stale":false,"prev":"us-or/ors-458.675","next":"us-or/ors-458.685"},"notice":"GroundRules: Original legal text. Not legal advice."}