Ed. Code, § 22253 · Chapter 4. Fiduciary Duties
Ed. Code, § 22253
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
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 system in their own interest or for their own account.
(b) In their individual or in any other capacity, act in any transaction involving the system on behalf of a party, or represent a party, whose interests are adverse to the interests of the plan or the interests of the members and beneficiaries of the Defined Benefit Program, as well as participants and beneficiaries of the Cash Balance Benefit Program.
(c) Receive any consideration for their personal account from any party conducting business with the system in connection with a transaction involving the assets of the plan.
Notes and commentary — not statutory text
History
Amended by Stats. 1998, Ch. 965, Sec. 30. Effective January 1, 1999.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=EDC§ionNum=22253.
- Text hash
- sha256 ccab3cd88c4b5ac8c2e61126a3449cc0a0e41b55c3abf8230a25549df5620dab
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
Cited by 4 provisions
Provisions in this library whose text cites Ed. Code, § 22253. Each shows the citation as that text prints it.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.