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Code · Oklahoma · Title 56 — Poor Persons

§56-230.54. Individual development accounts.

120 words·~1 min read·/ok/title-56-poor-persons/56-230-54·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A. As used in the Temporary Assistance for Needy Families
(TANF)program, an "individual development account" means an account established by a recipient under the TANF program pursuant to the provisions of the Family Savings Initiative Act or an account established prior to November 1, 1998, pursuant to the provisions of this section.
B. Funds deposited in an individual development account, in an amount not to exceed Two Thousand Dollars ($2,000.00), shall not be counted as resources by the Department of Human Services in determining financial eligibility for assistance or services pursuant to the TANF program. Added by Laws 1997, c. 414, § 5, eff. Sept. 1, 1997. Amended by Laws 1998, c. 429, § 12, eff. Nov. 1, 1998.
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