(a) (1) The debts, contracts, and obligations of the Maryland ABLE Program are not the contracts, debts, or obligations of the State, and neither the faith and credit nor taxing power of the State is pledged directly or indirectly or contingently, morally or otherwise, to the payment of the debts, contracts, and obligations.
(2) The Board may not directly or indirectly or contingently obligate, morally or otherwise, the State to levy or pledge any form of taxation whatsoever for the debts and obligations of the Maryland ABLE Program or to make any appropriation for the payment of the debts and obligations of the Maryland ABLE Program.
(b) The State may not be liable for any losses or shortage of funds in the event that the designated beneficiary’s ABLE account balance is insufficient to meet the designated beneficiary’s qualified disability expenses.
(c) Money of the Maryland ABLE Program may not be considered money of the State or deposited in the State Treasury.
(d) Money of the Maryland ABLE Program may not be considered money of or commingled with the Maryland Senator Edward J. Kasemeyer Prepaid College Trust.
(e) Money of the Maryland ABLE Program may not be considered money of or commingled with the Maryland Senator Edward J. Kasemeyer College Investment Plan.
(f) Money of the Maryland ABLE Program may not be considered money of or commingled with the Maryland Broker–Dealer College Investment Plan.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
