5 CCR s 30954

Cal. Admin. Code tit. 5, s 30954

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 30954. Distributions.

(a) Generally. An account owner may request a distribution by submitting a
written request to the program administrator's designee.

(b) Distributions Requested By Custodial Account Owners. A custodial
account owner must provide with the written request for any distribution
under this Section a certification that the account owner is the custodian
of the account and (except with respect to a qualified distribution or a
distribution due to the death of the designated beneficiary) that the
distribution is authorized under the California Uniform Transfers to
Minors Act and is necessary for the welfare of the designated beneficiary.

(c) Distributions Requested By Entity Account Owners. An entity account
owner must provide with the written request for any distributions under
this Section substantiation that the distribution is authorized by the
entity account owner and that the signer of the request is authorized to
conduct the transaction.

(d) Non-qualified Distribution. An account owner may request a
non-qualified distribution by submitting a written request to the program
administrator's designee. The program administrator or his or her designee
shall pay the amount of the requested non-qualified distribution to the
account owner.

(e) Distributions Due to Death, Disability or Scholarship of Designated
Beneficiary. An account owner may request a distribution due to the death
or disability of, or scholarship awarded to the designated beneficiary by
submitting a written request to the program administrator's designee.

(f) Thirty (30) Day Waiting Period. No distributions can be made within
thirty (30) days of receipt by the program administrator's designee of a
written request to change the account owner or a request to change the
mailing address of the account owner, unless the current account owner's
signature is signature guaranteed on the request.

Note: Authority cited: Sections 69981(d) and 69982(h), Education
Code. Reference: Sections 69983(a), 69985(b) and (c) and 69986(b),
Education Code; Section 3914, Probate Code; and Section
529(e)(2)(B), Internal Revenue Code.

HISTORY

1. New section filed 6-3-99 as an emergency pursuant to
Education Code69993.5; operative 6-28-99 (Register 99, No. 23). A
Certificate of
Compliance must be transmitted to OAL by 2-23-2000 or emergency language
will
be repealed by operation of law on the following day.

2. New section refiled 12-30-99 as an emergency pursuant to
Education Codesection 69993.5, including amendment of subsections
(c)(2)(B)-(C); operative
12-26-99 (Register 99, No. 53). A Certificate of Compliance must be
transmitted to OAL by 4-24-2000 or emergency language will be repealed by
operation of law on the following day.

3. Certificate of Compliance as to 12-30-99 order, including amendment of
subsections (b), (c)(2)(B) and (d), transmitted to OAL 4-21-2000 and filed
6-1-
2000 (Register 2000, No. 22).

4. Amendment of section and Note 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.

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

6. Amendment of subsections (d) and (e) and repealer of subsections
(e)(1)-
(e)(2)(C)filed 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.

7. Editorial correction ofHistory6 (Register 2002, No. 21).

8. Editorial correction ofHistory6 (Register 2002, No. 31).

9. 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).

10. Amendment of subsections (d) and (e) and repealer of subsections
(e)(1)-
(e)(2)(C)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.

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

12. Amendment of subsection (d) filed 12-1-2003; operative 1-1-2004
(Register
2003, No. 49).

5 CCR s 30954, 5 CA ADC s 30954
1CAC

5 CA ADC s 30954

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