California Legal Codes and Statutes

§ 69991

Added by Stats. 1997, Ch. 851, Sec. 2. Effective January 1, 1998.

The assets of the trust, including the program fund, shall at all times be preserved, invested, and expended solely and only for the purposes of the trust and shall be held in trust for the participants and beneficiaries and no property rights therein shall exist in favor of the state. The assets shall not be transferred or used by the State of California for any purposes other than the purposes of the trust.

Cite this section

Cal. Educ. Code § 69991 (2026)
https://ca.codecond.com/codes/edc/title-3-postsecondary-education/division-5-general-provisions/part-42-student-financial-aid-program/chapter-2-student-financial-aid-programs/article-19-golden-state-scholarshare-trust-act/section-69991

Other sections in Article 19 - Golden State Scholarshare Trust Act

§ 69980§ 69981§ 69982§ 69983§ 69984§ 69985§ 69986§ 69989§ 69990§ 69991§ 69992§ 69993§ 69993.5§ 69993.7§ 69994

This content is for reference, learning, and study purposes only. All legal text should be verified against the official California Legislative Information website, which is the authoritative source for California law. Data last processed: February 8, 2026.