California Education Code

§ 69985

EDC § 69985 Effective Sep 9, 2002Div. 5 · Title 3 · Part 42 · Ch. 2 · Art. 19

Statute text

(a)Any participant may cancel a participation agreement at will. A participant shall be entitled to a refund upon cancellation thereof of an amount equal to the then current market value of the amount of all contributions made to his or her account.

(b)Upon the occurrence of any of the following circumstances, no penalty shall be levied by the Scholarshare trust in the event of cancellation of a participation agreement:

(1)Death or disability of the beneficiary.

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Legislative history

Amended by Stats. 2002, Ch. 406, Sec. 4. Effective September 9, 2002.