{"code":"GOV","codeName":"Government Code","section":"21680","citation":"Gov. Code, § 21680","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"TITLE 2. GOVERNMENT OF THE STATE OF CALIFORNIA [8000. - 22980.]","url":"https://blackletter.si/government-code/title-2"},{"name":"DIVISION 5. PERSONNEL [18000. - 22980.]","url":"https://blackletter.si/government-code/title-2/division-5"},{"name":"PART 3. PUBLIC EMPLOYEES' RETIREMENT SYSTEM [20000. - 21716.]","url":"https://blackletter.si/government-code/title-2/division-5/part-3"},{"name":"CHAPTER 16. Deferred Compensation [21670. - 21685.]","url":"https://blackletter.si/government-code/title-2/division-5/part-3/chapter-16"}],"history":"Amended by Stats. 2010, Ch. 639, Sec. 16.   (SB 1139)   Effective January 1, 2011.","effective":"2011-01-01","html":"<p>Except as otherwise provided by law, the officers and employees of this system shall not engage in a transaction with regard to a tax-preferred retirement savings program if they know or should know that the transaction constitutes, directly or indirectly, any of the following:</p><p>(a) The sale, exchange, or leasing of any property from the program to a participant for less than adequate consideration, or from a participant to the program for more than adequate consideration.</p><p>(b) The lending of money or other extension of credit from the program to a participant without the receipt of adequate security and a reasonable rate of interest, or from a participant to the program with the provision of excessive security or an unreasonably high rate of interest.</p><p>(c) The furnishing of goods, services, or facilities from the program to a participant for less than adequate consideration, or from a participant to the program for more than adequate consideration.</p><p>(d) The transfer to, or use by or for the benefit of, a participant of any assets of the program for less than adequate consideration.</p>","text":"Except as otherwise provided by law, the officers and employees of this system shall not engage in a transaction with regard to a tax-preferred retirement savings program if they know or should know that the transaction constitutes, directly or indirectly, any of the following: (a) The sale, exchange, or leasing of any property from the program to a participant for less than adequate consideration, or from a participant to the program for more than adequate consideration. (b) The lending of money or other extension of credit from the program to a participant without the receipt of adequate security and a reasonable rate of interest, or from a participant to the program with the provision of excessive security or an unreasonably high rate of interest. (c) The furnishing of goods, services, or facilities from the program to a participant for less than adequate consideration, or from a participant to the program for more than adequate consideration. (d) The transfer to, or use by or for the benefit of, a participant of any assets of the program for less than adequate consideration.","otherVersions":[],"url":"https://blackletter.si/government-code/deferred-compensation-21680","source":"California Legislative Information bulk export (pubinfo)"}