Ed. Code, § 22257 · Chapter 4. Fiduciary Duties
Ed. Code, § 22257
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(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 board has acted with care, skill, prudence, and diligence in meeting the requirements of Sections 22252 and 22253 in selecting and monitoring the investment managers, then, notwithstanding Sections 22250, 22252, 22253, 22254, and 22256, no board member shall be liable for the acts or omissions of the investment managers or be under any obligation to invest or otherwise manage any assets of the retirement fund that are subject to the management of the investment managers.
(b) Incorporation of the fiduciary duty set forth in Section 22250 into the terms of a contract between the system and an investment manager shall be admissible as evidence that the board has acted with care, skill, prudence, and diligence in the selection of the investment manager.
Notes and commentary — not statutory text
History
Repealed and added by Stats. 1993, Ch. 893, Sec. 2. Effective January 1, 1994.
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=22257.
- Text hash
- sha256 0fa02c4ab7a3512aa0300354d0aea3d21fa8f154c12414f9eafcdad12c71480c
- 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
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Education Code
- Ed. Code, § 22203Printed as Section 22203
- Ed. Code, § 22250Printed as Section 22250 | Sections 22250, 22252, 22253, 22254, and 22256
- Ed. Code, § 22252Printed as Sections 22250, 22252, 22253, 22254, and 22256 | Sections 22252 and 22253
- Ed. Code, § 22253Printed as Sections 22250, 22252, 22253, 22254, and 22256 | Sections 22252 and 22253
- Ed. Code, § 22254Printed as Sections 22250, 22252, 22253, 22254, and 22256
- Ed. Code, § 22256Printed as Sections 22250, 22252, 22253, 22254, and 22256
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.