Cancellation of participation agreement, penalty.

Mo. Rev. Stat. § 209.620
in effect
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209.620. Cancellation of participation agreement, penalty. — Any participant may cancel a participation agreement at will. The board shall impose a penalty equal to or greater than ten percent of the earnings of an ABLE account for any distribution that is not: (1) Used exclusively for qualified disability expenses of the designated beneficiary; (2) Made because of death of the designated beneficiary; or (3) Held in the fund for the minimum length of time established by the board. (L. 2015 S.B. 174 § 166.620)
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://revisor.mo.gov/main/OneSection.aspx?section=209.620Fetched: 10/17/2026
Mo. Rev. Stat. § 209.620 — Cancellation of participation agreement, penalty | Revised Statutes of Missouri (Aug. 2026 snapshot) | Corpus