California Education Code CHAPTER 4 - Fiduciary Duties

  • Section 22250.
    The board and its officers and employees of the system shall discharge their duties with respect to the system and the plan solely in the...
  • Section 22251.
    (a) Except as provided in subdivision (b), the assets of the plan shall never inure to the benefit of an employer and shall be held for...
  • Section 22252.
    Except as otherwise provided by law, the board and its officers and employees of the system shall not cause the system to engage in a...
  • Section 22253.
    The board and its officers and employees of the system shall not do any of the following:(a) Deal with the assets of the plan and the...
  • Section 22254.
    (a) Any board member or officer who breaches any of the responsibilities, obligations, or duties imposed upon them by Section 22251, 22252, or 22253 shall be...
  • Section 22255.
    (a) No board member or officer shall be personally liable for the breach of a fiduciary duty except as set forth in Section 22254 or 22256....
  • Section 22256.
    A board member or officer shall be liable for a breach of fiduciary responsibility of another board member or officer with respect to the system...
  • Section 22257.
    (a) Notwithstanding Section 22203, the board may contract with or appoint one or more investment managers to manage the assets of the retirement fund. If the...
  • Section 22258.
    Notwithstanding Section 13340 of the Government Code, there is hereby continuously appropriated, without regard to fiscal years, from the retirement fund to the board, the...
  • Section 22259.
    (a) All board members and officers and employees of the system shall execute a fidelity bond, in an amount determined by the board to be prudent,...
  • Section 22260.
    Notwithstanding any other provision of law, the system may provide credit enhancement for bonds, notes, certificates of participation, or other evidences of indebtedness of an...
  • Section 22261.
    Notwithstanding any other provision of law, the board may make investments related to the planning, development, or acquisition of surplus real property owned by an...

Last modified: October 22, 2018