ARTICLE 3. Fiduciary Duties

Article 3 added by Stats. 1995, Ch. 379, Sec. 2.

§§ 20150–20153 · 5 sections

• § 20150 A board member or employee of the board shall not, directly or indirectly: (a) Have any interest in the making of any investment, or in the gains or profits…
• § 20151 The board and its officers and employees shall discharge their duties with respect to this system solely in the interest of the participants and beneficiaries:…
• § 20152 Notwithstanding Section 13340, there is hereby continuously appropriated, without regard to fiscal years, from the retirement fund to the board, the amount…
• § 20152.5 No matter involving any vendor or contractor in their individual or any other capacity shall be considered during a closed session on any transaction involving…
• § 20153 (a) During the process leading to an award of any contract by the system, no member of the board or its staff shall knowingly communicate concerning any matter…