Oklahoma § 56-230.54 - Individual development accounts
Full text of Oklahoma Oklahoma Statutes § 56-230.54 — Individual development accounts, with citation guidance and answers to common questions.
§ 56-230.54. Individual development accounts
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.
Frequently Asked Questions About Oklahoma § 56-230.54
What does Oklahoma Statutes § 56-230.54 cover?
Section 56-230.54 ("Individual development accounts") is part of the Oklahoma Statutes, the codified statutory law of Oklahoma. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Oklahoma § 56-230.54?
A common citation format is "Oklahoma Statutes § 56-230.54" (Oklahoma). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Oklahoma law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Oklahoma official source linked on this page or consult a licensed Oklahoma attorney.
How does Oklahoma § 56-230.54 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Oklahoma can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Oklahoma.