5 CCR s 30951.1

Cal. Admin. Code tit. 5, s 30951.1

CALIFORNIA CODE OF REGULATIONS
TITLE 5. EDUCATION
DIVISION 4.5. SCHOLARSHARE INVESTMENT BOARD
CHAPTER 1. GOLDEN STATE SCHOLARSHARE TRUST PROGRAM
This database is current through 02/02/07, Register 2007, No. 5
s 30951.1. Custodial Account Registration.

(a) Notice of Change in Custodial Account Registration. The program
administrator's designee shall change the registration of a custodial
account upon receipt of written notification from the custodial account
owner that the designated beneficiary has reached the age of majority or
is otherwise legally authorized to assume ownership. The change in account
registration shall not be effective until the designated beneficiary has
submitted a completed participation agreement to the program
administrator's designee.

(b) Extension of Custodianship Past Designated Beneficiary's Reaching Age
of Majority. If the custodianship of the custodial account is extended
pursuant to Section 3920.5 of the California Uniform Transfers to Minors
Act to a time past the designated beneficiary's reaching the age of
majority, the change in account registration will only be effective if:
(1) the custodian provides written notification to the program
administrator's designee of the termination of the custodianship at such
later time; and (2) the designated beneficiary submits a completed
participation agreement to the program administrator's designee.

Note: Authority cited: Sections 69981(c)(7), 69981(d) and
69982(h), Education Code. Reference: Sections 69986 and 69990(a),
Education Code; Sections 3920 and 3920.5, Probate Code; and Section
529(b)(4), Internal Revenue Code.

HISTORY

1. New section filed 12-26-2000 as an emergency; operative 1-1-2001
(Register
2000, No. 52). A Certificate of Compliance must be transmitted to OAL by
7-
2-2001 pursuant to Education Code section 6993.5 or emergency language
will
be repealed by operation of law on the following day.

2. Certificate of Compliance as to 12-26-2000 order transmitted to OAL
5-22-
2001 and filed 7-5-2001 (Register 2001, No. 27).

3. Amendmentfiled 12-18-2001 as an emergency; operative 1-1-2002 (Register
2001, No. 51). Pursuant to Education Code section 69993.5, a Certificate
of Compliance must be transmitted to OAL by 7-1-2002 or emergency language
will
be repealed by operation of law on the following day.

4. Editorial correction ofHistory3 (Register 2002, No. 21).

5. Editorial correction ofHistory3 (Register 2002, No. 31).

6. Reinstatement of section as it existed prior to 12-18-2001 emergency
amendment by operation of Government Code section 11346.1(f) (Register
2002, No. 31).

7. Amendment filed 7-31-2002 as an emergency; operative 7-31-2002
(Register
2002, No. 31). A Certificate of Compliance must be transmitted to OAL by
12-
2-2002 or emergency language will be repealed by operation of law on the
following day.

8. Certificate of Compliance as to 7-31-2002 order transmitted to OAL
11-13-
2002 andfiled 12-5-2002 (Register 2002, No. 49).

5 CCR s 30951.1, 5 CA ADC s 30951.1
1CAC

5 CA ADC s 30951.1

END OF DOCUMENT