Sec. 3-36g. Accounting for designated beneficiary. Claim for accounting.
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(a)Upon a designated beneficiary's eighteenth birthday and completion of a financial literacy requirement as prescribed by the Treasurer, such beneficiary shall become eligible to request an amount, to be used for payment of an eligible expenditure, of up to the total sum of the amount allocated or transferred, as applicable, on behalf of the designated beneficiary pursuant to section 3-36h , plus the designated beneficiary's pro rata share of the total net earnings from investments of sums held in the trust at the time of disbursement.
(b)A designated beneficiary may submit a claim pursuant to subsection
(a)of this section, in such form and manner as prescribed by the Treasurer, until such designated beneficiary's thirtieth birthday, provided such designated beneficiary is a resident of the state at the time of such claim. If a designated beneficiary
(1)is deceased before submitting a valid claim, or
(2)fails to submit a valid claim, as determined by the Treasurer, before such designated beneficiary's thirtieth birthday, the sum such designated beneficiary was eligible to claim shall be retained by the trust to credit to designated beneficiaries born in subsequent years.
(c)The Treasurer and the Department of Social Services shall enter into a memorandum of understanding to establish information sharing practices in accordance with all applicable state or federal laws in order to carry out the purposes of sections 3-36b to 3-36h , inclusive.