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20-77-704. Payment of trust funds.
Arkansas Code — all titles (historical 2020) · legal_authorities
20-77-704. Payment of trust funds.
(a) The cotrustees of the Special Needs Trust Revolving Fund are hereby given complete discretion as to the expenditure of principal and income of the Special Needs Trust Revolving Fund for the purposes set forth in this subchapter, not to exceed all of the income earned by the fund annually and no more than ten percent (10%) of the principal of the fund. All income not expended annually shall become a part of and be added to the principal of the fund. The expenditures from the fund shall be subject to § 20-77-705 and shall have the following priorities:
(1) Each claimant who is also a contributing beneficiary shall be deemed to have priority as to distribution of his or her share of the principal and the income earned by his or her share of the fund; and
(2) Any of the share of principal or income of the contributing beneficiary not expended for the contributing beneficiary plus all expenditure of principal and income as allowed above which are not designated for any contributing beneficiary may be expended for any other claimant.
(b)(1) The cotrustees shall keep a current account balance for each contributing beneficiary's fund, with the balance to be reduced by all expenditures for that contributing beneficiary whether out of the fund or from any collateral source until the balance reaches zero dollars ($0.00).
(2) Should the contributing beneficiary die before his or her balance reaching zero dollars ($0.00), the balance shall be paid to the estate of the deceased contributing beneficiary.
(c) When a contributing beneficiary's account balance as described in subsection (b) of this section reaches zero dollars ($0.00), the contributing beneficiary shall be treated as any other claimant for purposes of receiving benefits
Source: Arkansas Code — historical release 78 (November 6, 2020) · 20-77-704
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:20-77-704
Source file: gov.ar.code.title.20.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 13a85ee0cfe12fb0a8f09f713d03f10fdb0efdd472b5553e220b384928864f26
Source location: content.xml paragraph 36457
Stored source content
20-77-704. Payment of trust funds.
(a) The cotrustees of the Special Needs Trust Revolving Fund are hereby given complete discretion as to the expenditure of principal and income of the Special Needs Trust Revolving Fund for the purposes set forth in this subchapter, not to exceed all of the income earned by the fund annually and no more than ten percent (10%) of the principal of the fund. All income not expended annually shall become a part of and be added to the principal of the fund. The expenditures from the fund shall be subject to § 20-77-705 and shall have the following priorities:
(1) Each claimant who is also a contributing beneficiary shall be deemed to have priority as to distribution of his or her share of the principal and the income earned by his or her share of the fund; and
(2) Any of the share of principal or income of the contributing beneficiary not expended for the contributing beneficiary plus all expenditure of principal and income as allowed above which are not designated for any contributing beneficiary may be expended for any other claimant.
(b)(1) The cotrustees shall keep a current account balance for each contributing beneficiary's fund, with the balance to be reduced by all expenditures for that contributing beneficiary whether out of the fund or from any collateral source until the balance reaches zero dollars ($0.00).
(2) Should the contributing beneficiary die before his or her balance reaching zero dollars ($0.00), the balance shall be paid to the estate of the deceased contributing beneficiary.
(c) When a contributing beneficiary's account balance as described in subsection (b) of this section reaches zero dollars ($0.00), the contributing beneficiary shall be treated as any other claimant for purposes of receiving benefits from this fund. In addition to the annual accounting as required by § 20-77-108, the cotrustees shall notify a contributing beneficiary when his or her account balance reaches zero dollars ($0.00).
(d) A benefit shall not be subject to execution, attachment, garnishment, or other process, except that benefits for allowable expenses shall not be exempt from a creditor to the extent that the creditor has provided products, services, or accommodations, the costs of which are included in the benefit.
(e) An assignment by the claimant to any future benefit under the provisions of this subchapter is unenforceable, except an assignment of any benefit for allowable expense to the extent that the benefits are for the cost of products, services, or accommodations necessitated by the injury or disability on which the claim is based and are provided or are to be provided by the assignee.
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Arkansas Code — all titles (historical 2020) · legal_authorities
20-77-108. Furnishing of annual audit by nonprofit Medicaid providers.
(a) Every nonprofit corporation, except those licensed under § 20-9-201 et seq., which is eligible to receive payments of twenty-five thousand dollars ($25,000) or more for services supplied as a Medicaid provider shall, as a condition of enrollment, provide the Department of Human Services with an annual financial and compliance audit. The audit shall cover the entire operations of the nonprofit organization and be in accordance with the “Guidelines for Financial and Compliance Audits of Programs Funded by the Arkansas Department of Human Services” as promulgated by the department.
(b) Every nonprofit corporation licensed under § 20-9-201 et seq. which is eligible to receive payments of twenty-five thousand dollars ($25,000) or more for services supplied as a Medicaid provider shall, as a condition of enrollment, provide the department with an annual financial audit. The audit shall cover the entire operations of the organization and be in accordance with the Guidelines for Financial and Compliance Audits of Programs Funded by the Arkansas Department of Human Services.
(c) The department is specifically authorized to promulgate rules establishing subrecipient and provider audit requirements for all programs funded through the department.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 20-77-108
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 20-77-108. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
20-77-705. Conditions for benefits — Changes in benefits.
(a) Benefits shall not be awarded:
(1) Unless the claim has been filed with the cotrustees of the Special Needs Trust Revolving Fund after the injury, disability, or medical condition exists; or
(2) If any governmental entitlement or insurance program provides comparable benefits to persons eligible to participate in those programs.
(b) Benefits otherwise payable to a beneficiary shall be diminished to the extent that the economic loss is recouped from collateral sources and retained by the beneficiary or claimant.
(c) In determining eligibility for benefits from the Special Needs Trust Revolving Fund, the cotrustees shall apply the same eligibility standards as those then in effect for assistance under the state medical assistance program.
(d) In the event that the fund results in a contributing beneficiary’s being declared ineligible for state medical assistance payments, the contributing beneficiary may elect:
(1) To take no action;
(2) To withdraw from the fund, whereupon the contributing beneficiary shall be entitled to the unexpended portion of his or her contribution; or
(3) To continue to participate in the fund and be eligible for benefits from the fund, but to relinquish any other interest in the fund, including any right the contributing beneficiary or the contributing beneficiary's estate may have had to any unexpended portion of the beneficiary's contribution. Any such relinquishment shall be deemed to have been made for adequate consideration.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 20-77-705
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 20-77-705. This identifies an authority to review, not proof of applicability.