Gov. Code, § 7511 · Article 1. General Provisions
Gov. Code, § 7511
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
Notwithstanding any other provision to the contrary:
(a) A public retirement system may purchase insurance for its fiduciaries or for itself to cover liability or losses occurring by reason of the act or omission of a fiduciary, if the insurance permits recourse by the insurer against the fiduciary in the case of a breach of a fiduciary obligation by the fiduciary.
(b) A fiduciary may purchase insurance to cover liability under this section from and for his or her own account.
(c) An employer or an employee organization may purchase insurance to cover potential liability of one or more persons who serve in a fiduciary capacity with regard to an employee benefit plan.
Notes and commentary — not statutory text
History
Added by Stats. 1984, Ch. 1503, Sec. 4.
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=7511.
- Text hash
- sha256 662d93b6bad047ea2024c398c6a79ded1dd40a292749c8418920211690ecd2f1
- 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 2 provisions
Provisions in this library whose text cites Gov. Code, § 7511. Each shows the citation as that text prints it.
Government Code
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.