ScholarShare Investment Board

California Code of Regulations
Title 5: Education
Division 4.5: Scholarshare Investment Board
Chapter 2: Governorís Scholarship Programs

Section 31000 Definitions Applicable to Governorís Scholarship Programs

  1. Definitions. The following definitions shall apply within this Chapter:
    1. Account means the formal record of transactions consistent with Section 529 of the Internal Revenue Code.
    2. Account owner means the State of California acting pursuant to Education Code Section 69995, et seq. as owner of qualified scholarship accounts for award recipients.
    3. Award notification letter means the letter delivered to a pupil through his or her school which provides: (1) notice of and instructions for claiming a Governorís Scholars Award; (2) identification of an Internet site to use to claim the award; and (3) a unique identifying number to the pupil.
    4. Award recipient means a pupil who has been identified as the recipient of a scholarship award defined in Education Code Section 69997 or 69998 and who has successfully claimed at least one scholarship award.
    5. Claim means the submission of information by a pupil or award recipient in accordance with Section 31001 of this Chapter, to establish his or her identity as the recipient of a scholarship award.
    6. Pupil means a student who has been identified as the recipient of a scholarship award defined in Education Code Section 69997 who has not yet successfully claimed at least one such award.
    7. Qualified scholarship account means an account opened by the account owner for the benefit of award recipients in accordance with Sections 117 and 529 of the Internal Revenue Code.
    8. Qualified scholarship account distribution means a withdrawal from the qualified scholarship account in accordance with Sections 117 and 529 of the Internal Revenue Code and is referred to herein as a distribution.
    9. Scholarship award means either a Governorís Scholars award defined in Education Code Section 69997 or a Governorís Distinguished Mathematics and Science Scholars award defined in Education Code Section 69998.
    10. Scholarshare Investment Boardís designee means the entity designated by the Scholarshare Investment Board to invest and manage funds on behalf of the account owner.
  2. A ďwritten notification,Ē ďwritten requestĒ or ďwritten confirmationĒ may include an electronic notification, electronic request or electronic confirmation containing an electronic signature that is acceptable under California or federal electronic signature laws.