Ed. Code, § 41033 · Article 3. Foundation Fund
Ed. Code, § 41033
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
The governing board of a school district which has placed funds in the Foundation Fund is hereby authorized to invest all or any part of those funds as it deems wise and expedient as follows:
(a) In the securities, warrants, or instruments of indebtedness specified by Section 53601 of the Government Code.
(b) In corporate securities other than corporate shares, provided that the amount of investment under this subdivision shall not exceed 50 percent of the amount invested under subdivision (a).
Any security, warrant, or instrument of indebtedness purchased pursuant to this section may be sold and the proceeds reinvested in similar securities, warrants, or instruments, or placed in the Foundation Fund.
Notes and commentary — not statutory text
History
Amended by Stats. 2002, Ch. 1168, Sec. 14. Effective September 30, 2002.
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=41033.
- Text hash
- sha256 28e0c50f779f640ea0795d168e4b3f6994193e77a3f2c4b8eaefe71bee224034
- 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
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Education Code
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