| (a) The participant must be the designated beneficiary
or a fiduciary authorized by law to act on behalf of the designated
beneficiary, including a parent, guardian, or trustee. The Board may
limit the types of fiduciaries allowed to be participants.
(b) Because a designated beneficiary is limited to
one ABLE account, the participant who applies for enrollment must
have the legal authority to act on behalf of a beneficiary. The Board
may determine who has legal authority to apply for enrollment on behalf
of a designated beneficiary, and may require written consent from
individuals who have legal authority to act on behalf of a beneficiary.
(c) A participant who is not the designated beneficiary
may not have or acquire a beneficial interest in an account.
(d) A participant who is not the designated beneficiary
must administer the account for the benefit of the designated beneficiary.
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