California Code of Regulations › Title 5 - Education › Division 4.5 - Scholarshare Investment Board › Chapter 1 - Golden State Scholarshare Trust Program › Section 30952 - Change of Designated Beneficiary

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Change of Designated Beneficiary. An account
				owner (other than a custodial account owner) may change the designated beneficiary
				designated for the account at any time by submitting a written request to the
				program administrator or its designee. The written request shall contain a
				certification by the account owner that the newly designated beneficiary is a member
				of the family of the current designated beneficiary (unless the account owner is a
				state or local government agency or an entity described in Section
				501(c)(3) of the
				Internal Revenue Code and identified in Section
				30959(a)(2) in which
				case the account owner must certify that the newly designated beneficiary is not a
				member of the family of the current designated beneficiary). The written request
				shall also contain a dated original signature of an individual account owner or the
				dated original signature of the authorized signer for an entity account owner. An
				entity account owner shall also attach to the written request substantiation that
				the entity account owner authorizes the change of beneficiary and that the signer of
				the written request is authorized to conduct the transaction.
(b) Change of Designated Beneficiary Through
				Rollover Distribution. A change of designated beneficiary may also be accomplished
				by means of a rollover distribution by an account owner (other than a custodial
				account owner).
1. New section
				  filed 6-3-99 as an emergency pursuant to Education Code
				  69993.5;
				  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				  transmitted to OAL by 2-23-2000 or emergency language will be repealed by operation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 Code section
				  69993.5; 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				  emergency language will be repealed by operation of law on the following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 transmitted to OAL
				  4-21-2000 and filed 6-1-2000 (Register 2000, No. 22).
4. Amendment 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
				  section heading, section and NOTE 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 of HISTORY 6 (Register 2002, No. 21).
8. Editorial
				  correction of HISTORY 6 (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 section heading, section and
				  NOTE 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 and
				  filed 12-5-2002 (Register 2002, No. 49).
12. Amendment of subsection (a)
				  filed 7-20-2016; operative 10-1-2016 (Register 2016, No.
				  30).
Note: Authority cited: Sections
					 69981(d)
					 and
					 69982(h),
					 Education Code. Reference: Sections
					 69980,
					 69983(e) and
					 (f), Education Code; and Sections
					 529(b)(7), (c)(3)(C) and
					 (e)(2), Internal Revenue
					 Code.