Gov. Code, § 31596.1 · Article 5. Financial Provisions
Gov. Code, § 31596.1
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
The expenses of investing its moneys shall be borne solely by the system. The following types of expenses shall not be considered a cost of administration of the retirement system, but shall be considered as a reduction in earnings from those investments or a charge against the assets of the retirement system as determined by the board:
(a) The costs, as approved by the board, of actuarial valuations and services rendered pursuant to Section 31453.
(b) The compensation of any bank or trust company performing custodial services.
(c) When an investment is made in deeds of trust and mortgages, the fees stipulated in any agreement entered into with a bank or mortgage service company to service such deeds of trust and mortgages.
(d) Any fees stipulated in an agreement entered into with investment counsel for consulting or management services in connection with the administration of the board’s investment program, including the system’s participation in any form of investment pools managed by a third party or parties.
(e) The compensation to an attorney for services rendered pursuant to Section 31607 or legal representation rendered pursuant to Section 31529.1.
Notes and commentary — not statutory text
History
Amended by Stats. 1992, Ch. 1047, Sec. 3. Effective January 1, 1993.
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=31596.1.
- Text hash
- sha256 fbfdc7b74fd5f36f37531125647b4ff95c04d4fbd56ad8612e21271ce6608a67
- 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.
Cited by 7 provisions
Provisions in this library whose text cites Gov. Code, § 31596.1. Each shows the citation as that text prints it.
Government Code
- Gov. Code, § 31459Printed as Sections 31453, 31453.5, 31454, 31454.1, 31454.5, 31472, 31588.1, 31589.1, 31591, 31592.3, 31594, 31595.1, 31595.9, 31596, 31596.1, 31601.1, 31607, 31611, 31616, 31625, 31784, and 31872
- Gov. Code, § 31459.1Printed as Sections 31453, 31453.5, 31454, 31454.1, 31454.5, 31472, 31588.1, 31589.1, 31591, 31592.3, 31594, 31595.1, 31595.9, 31596, 31596.1, 31601.1, 31607, 31610, 31611, 31612, 31613, 31616, 31618, 31621.11,
- Gov. Code, § 31522.5Printed as Sections 31529.9 and 31596.1
- Gov. Code, § 31522.7Printed as Sections 31529.9 and 31596.1
- Gov. Code, § 31522.9Printed as Sections 31529.5, 31529.9, and 31596.1
- Gov. Code, § 31522.10Printed as Sections 31529.9 and 31596.1
- Gov. Code, § 31522.11Printed as Sections 31529.9 and 31596.1
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.