5 CCR s 31006

Cal. Admin. Code tit. 5, s 31006

CALIFORNIA CODE OF REGULATIONS
TITLE 5. EDUCATION
DIVISION 4.5. SCHOLARSHARE INVESTMENT BOARD
CHAPTER 2. GOVERNOR'S SCHOLARSHIP PROGRAMS
This database is current through 02/02/07, Register 2007, No. 5
s 31006. Refunds.

(a) If the award recipient receives a refund of any part of the
distribution from the eligible educational institution, the award
recipient shall notify the Scholarshare Investment Board's designee in
writing of such amount and either provide evidence showing that the
refunded amount was used for qualified higher education expenses or shall
return the amount of the refund not used for qualified higher education
expenses to the Scholarshare Investment Board's designee. The Scholarshare
Investment Board's designee shall deposit any returned refunded amounts
into the award recipient's account within the Scholarshare Trust.

(b) If the eligible educational institution refunds any part of the award
recipient's distribution to the Scholarshare Investment Board's designee,
the Scholarshare Investment Board's designee shall deposit any returned
refunded amounts into the award recipient's account within the
Scholarshare Trust.

(c) If a refund from the eligible educational institution to the award
recipient or to the Scholarshare Investment Board's designee is based on a
final determination pursuant to Section 31005, the Scholarshare Investment
Board's designee shall deposit any returned or refunded amounts into a
forfeiture account within the Scholarshare Trust.

Note: Authority cited: Sections 69981(d), 69996(d) and 69999,
Education Code. Reference: Section 69996(d), Education Code;
Sections 529 and 117(b), Internal Revenue Code, and 26 Code of
Federal Regulations Section 1.529-2(e)(4)(ii)(d).

HISTORY

1. New section filed 12-1-2000 as an emergency; operative 12-1-2000
(Register
2000, No. 48). A Certificate of Compliance must be transmitted to OAL by
11-
30-2001 pursuant to Education Code section 69999 or emergency language
will
be repealed by operation of law on the following day.

2. Certificate of Compliance as to 12-1-2000 order, including amendment of
section, transmitted to OAL 11-30-2001 and filed 12-21-2001 (Register
2001,
No. 51).

3. Redesignation of existing paragraphs as subsections (a)-(c) filed
12-27-2001
as an emergency; operative 1-1-2002 (Register 2001, No. 52). Pursuant to
Education Code section 69999, a Certificate of Compliance must be
transmitted to OAL by 1-1-2003 or emergency language will be repealed by
operation of law on the following day.

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

5. Certificate of Compliance as to 12-27-2001 order transmitted to OAL
12-18-
2002 and filed 1-29-2003 (Register 2003, No. 5).

5 CCR s 31006, 5 CA ADC s 31006
1CAC

5 CA ADC s 31006

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