Arizona Laws 46-904. Incapacitated or minor eligible individual
A. If an eligible individual is a minor or an incapacitated adult, the account may be opened and managed by any of the following as long as the individuals listed are not in conflict with 26 United States Code § 529A and any regulations issued pursuant to that section:
Terms Used In Arizona Laws 46-904
- Account: means an individual account in the fund established as prescribed in this article for a single designated beneficiary. See Arizona Laws 46-901
- Adult: means a person who has attained eighteen years of age. See Arizona Laws 1-215
- Eligible individual: means an individual who is entitled to benefits based on blindness or disability under title II or XVI of the social security act, and such blindness or disability occurred before the date on which the individual attained twenty-six years of age or a disability certification with respect to such individual is filed with the United States secretary of the treasury for such taxable year as stipulated in 26 United States Code § 529A. See Arizona Laws 46-901
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Minor: means a person under eighteen years of age. See Arizona Laws 1-215
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- United States: includes the District of Columbia and the territories. See Arizona Laws 1-215
1. An agent under a valid power of attorney signed by the eligible individual at a time when the eligible individual had capacity to execute the power.
2. A parent of a minor child who is an eligible individual.
3. A court-appointed conservator of the estate of the eligible individual.
4. A court-appointed guardian of the eligible individual, with express authorization.
B. In any case in which a court authorizes the conservator or guardian of the eligible individual to open and manage the account, the court, in its discretion, may waive any requirement of further accounting pursuant to section 14-5419 or inclusion in any bond established for the conservatorship pursuant to section 14-5411.