Section 115420. (A) The State Treasurer shall implement and administer the program under the terms and conditions established by this article. The State Treasurer has the authority and responsibility to: (1) develop and implement the program in a manner consistent with the provisions of this article; (2) engage the services of consultants on a contract basis for rendering professional and technical assistance and advice; (3) seek rulings and guidance from the Secretary and the federal Internal Revenue Service relating to the program; (4) make changes to the program required for the participants in the program to obtain the federal income tax benefits or treatment provided by section 529A of the federal Internal Revenue Code of 1986, as amended; (5) charge, impose, and collect administrative fees and service charges in connection with any agreement, contract, or transaction relating to the program; (6) develop marketing plans and promotional materials; (7) establish the methods by the funds held in accounts must be dispersed; (8) establish the method by which funds must be allocated to pay for administrative costs; (9) do all things necessary and proper to carry out the purposes of this article; (10) rules and promulgate regulations necessary to effectuate the provisions of this article; (11) prepare an annual report of the ABLE Savings Program to the Governor, the Senate, and the House of Representatives; and (12) notify the Secretary when an account has been opened for a designated beneficiary and submit other reports concerning the program required by the Secretary. (B) The State Treasurer may enter into agreements with other states to either allow South Carolina residents to participate in a plan operated by another state or to allow residents of other states to participate in the South Carolina ABLE Savings Program. Section 115430. (A) The State Treasurer may implement the program through use of program managers as account depositories or managers, or both. The State Treasurer may solicit proposals from program managers to act as depositories or managers of the program, or both. Program managers submitting proposals shall describe the investment instruments to be held in accounts. The State Treasurer
Section 115420. (A) The State Treasurer shall implement and administer the program under the terms and conditions established by this article. The State Treasurer has the authority and responsibility to: (1) develop and implement the program in a manner consistent with the provisions of this article; (2) engage the services of consultants on a contract basis for rendering professional and technical assistance and advice; (3) seek rulings and guidance from the Secretary and the federal Internal Revenue Service relating to the program; (4) make changes to the program required for the participants in the program to obtain the federal income tax benefits or treatment provided by section 529A of the federal Internal Revenue Code of 1986, as amended; (5) charge, impose, and collect administrative fees and service charges in connection with any agreement, contract, or transaction relating to the program; (6) develop marketing plans and promotional materials; (7) establish the methods by the funds held in accounts must be dispersed; (8) establish the method by which funds must be allocated to pay for administrative costs; (9) do all things necessary and proper to carry out the purposes of this article; (10) rules and promulgate regulations necessary to effectuate the provisions of this article; (11) prepare an annual report of the ABLE Savings Program to the Governor, the Senate, and the House of Representatives; and (12) notify the Secretary when an account has been opened for a designated beneficiary and submit other reports concerning the program required by the Secretary. (B) The State Treasurer may enter into agreements with other states to either allow South Carolina residents to participate in a plan operated by another state or to allow residents of other states to participate in the South Carolina ABLE Savings Program. Section 115430. (A) The State Treasurer may implement the program through use of program managers as account depositories or managers, or both. The State Treasurer may solicit proposals from program managers to act as depositories or managers of the program, or both. Program managers submitting proposals shall describe the investment instruments to be held in accounts. The State Treasurer
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