California Health and Safety Code

§ 8778.5

HSC § 8778.5 Effective Jan 1, 2019Div. 8 · Part 3 · Ch. 5 · Art. 4

Statute text

Each special care trust fund established pursuant to this article shall be administered in compliance with the following requirements:

(a)(1) The board of trustees shall honor a written request of revocation by the trustor within 30 days upon receipt of the written request.

(2)Except as provided in paragraph (3), the board of trustees upon revocation of a special care trust may assess a revocation fee on the earned income of the trust only, the amount of which shall not exceed 10 percent of the trust corpus, as set forth in subdivision (c) of Section 2370 of Title 16 of the California Code of Regulations.

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Legislative history

Amended by Stats. 2018, Ch. 571, Sec. 34. (SB 1480) Effective January 1, 2019.