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Division 4.5. ScholarShare Investment Board Chapter 2. Governor's Scholarship Programs. Ownership of Scholarship Award.   

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(a) The account owner owns all scholarship awards and earnings thereon in qualified scholarship accounts until a qualified distribution is made.

(b) An award recipient's right to claim a scholarship award is not transferable to another individual. An award recipient's right to direct a distribution is not transferable to another individual.

NOTE

Authority cited:

Education Code 69981(d)

Education Code 69996(d)

Education Code 69999

Reference:

Education Code 69996(b)

Education Code 69996(c)(1)

(Amended by Register 2001, No. 51)