Maximum Account Balance Limit definition

Maximum Account Balance Limit means the limit on the total value of the ABLE Account.
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Maximum Account Balance Limit means the limit on
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Examples of Maximum Account Balance Limit in a sentence

  • Accounts that have reached the Maximum Account Balance Limit may continue to accrue earnings.

  • Contributions made by such individual to the Account more than 720 days prior to the individual’s bankruptcy filing should not be a part of the bankruptcy estate provided that the aggregate amount contributed by such individual to the Account does not exceed the Maximum Account Balance Limit at the time of the bankruptcy filing.

  • However, Accounts that have reached the Maximum Account Balance Limit may continue to accrue earnings.

  • Even if the combination of all accounts in the Program (including all accounts in the Direct Plan and the Advisor Plan), held for a Beneficiary reaches the Maximum Account Balance Limit, those funds may not be sufficient to pay all Qualified Higher Education Expenses of the Beneficiary.

  • If a transfer of funds causes the aggregate market value of all accounts in the Program (including all accounts in the ▇▇▇▇ Advisor Plan and the Direct Plan) for the same Beneficiary to exceed the Maximum Account Balance Limit, the excess amount will be rejected and returned.

  • Current Maximum Account Balance Limit Limit of $300,000 per Beneficiary — no new contributions may be made to any Account if, at the time of a proposed contribution, the aggregate account balance of the Account and any other Accounts under the Program for the same Beneficiary has a market value equal to or in excess of this limit.

  • Contributing via Colorado Direct Deposit Tax Refund Program Page 9 Maximum Account Balance Limit • Aggregate account balance limit currently in place is $350,000.

  • Maximum Account Balance Limit SCHOLARS C HOICE COLLEGE S AVINGS PROGRAM The federal income tax laws require that a limit be placed on the amount that can be invested in an Account.

Related to Maximum Account Balance Limit

  • Account Balance means, with respect to a Participant, an entry on the records of the Employer equal to the sum of (i) the Deferral Account balance, (ii) the Company Contribution Account balance, and (iii) the Company Restoration Matching Account balance. The Account Balance shall be a bookkeeping entry only and shall be utilized solely as a device for the measurement and determination of the amounts to be paid to a Participant, or his or her designated Beneficiary, pursuant to this Plan.

  • Debit Balance means, as of any date, the dollar amount, if any, representing each of: (1) the aggregate Annual Charge, accrued in accordance with Section 3.4(g)(i); and (2) any Leveraged Principal Amount (together with any pro rata Interest Amounts determined in accordance with Section 3.4(g)(ii), if applicable), as reduced by any distributions recorded from ML Ventures Units recorded in a Participant’s Account in accordance with Section 3.4(e).

  • Specified Reserve Account Balance means, for any Payment Date, an amount equal to 1.00% of the Pool Balance as of the Cut-Off Date; provided, however, on any Payment Date after the Notes are no longer Outstanding following payment in full of the principal and interest on the Notes, the “Specified Reserve Account Balance” shall be $0.

  • Adjusted Capital Account Balance means, with respect to each Partner, the balance in such Partner’s Capital Account adjusted (i) by taking into account the adjustments, allocations and distributions described in Treasury Regulations Sections 1.704-1(b)(2)(ii)(d)(4), (5) and (6); and (ii) by adding to such balance such Partner’s share of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum Gain, determined pursuant to Treasury Regulations Sections 1.704-2(g) and 1.704-2(i)(5), any amounts such Partner is obligated to restore pursuant to any provision of this Agreement or by applicable Law. The foregoing definition of Adjusted Capital Account Balance is intended to comply with the provisions of Treasury Regulations Section 1.704-1(b)(2)(ii)(d) and shall be interpreted consistently therewith.

  • Maximum Benefit Amount means the maximum amount payable for coverage provided to You as shown in the Schedule of Benefits.