Section 4666.501 - Able savings accounts(a)ABLE account contract.--An ABLE savings account may be opened through a contract entered into by an account owner and the department. If the account owner is a fiduciary, the account owner shall continue to have signatory authority over the account until the account owner relinquishes the authority.(b) Fiduciaries.--To the extent that Federal law requires an eligible individual to be the account owner, the following may enter into an ABLE account contract as fiduciary for an eligible individual who is a minor or who lacks capacity to enter into an ABLE account contract: (1) A parent or guardian.(2) A person or legal entity designated in writing by the parent or guardian.(3) A trustee of a trust for which the eligible individual is a beneficiary.(4) For an eligible individual receiving benefits based on blindness or a disability under Title II of the Social Security Act (49 Stat. 620, 42 U.S.C. § 401 et seq.) or Title XVI of the Social Security Act ( 42 U.S.C. § 1381 ), the representative payee for those benefits.(5) Any other person or entity authorized under section 529A of the Internal Revenue Code with signature authority over the account.(c)Change of designated beneficiary.--An account owner may change the designated beneficiary named in the ABLE account contract to another eligible individual if permitted under section 529A of the Internal Revenue Code.Added by P.L. TBD 2016 No. 17, § 501, eff. 4/18/2016.