Gov. Code, § 22970.31 · Chapter 3. Administration of the Plan
Gov. Code, § 22970.31
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) The board shall adopt a plan instrument embodying the material terms and conditions of the plan consistent with this part and the applicable provisions of Title 26 of the United States Code.
(b) The board may, as it deems necessary or appropriate, amend the plan consistent with this part and the applicable provisions of Title 26 of the United States Code.
(c) A fiduciary of the plan shall not be liable for any loss that results from the individual investment fund option selected by a participant or the plan’s designated default option for investment of contributions by participants who do not provide affirmative instruction on how to invest their contributions.
Notes and commentary — not statutory text
History
Amended by Stats. 2013, Ch. 755, Sec. 6. (SB 277) Effective January 1, 2014.
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=GOV§ionNum=22970.31.
- Text hash
- sha256 0edbc105bd56e5c0253a81728a371cb5e30e5b42ae99e4b8e8b5b5ae40dd765d
- 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
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.