Pub. Resources Code, § 71561 · Chapter 6. Financial Transactions and Audits
Pub. Resources Code, § 71561
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
The endowment funds shall be administered and managed in accordance with all of the following:
(a) Reasonably prudent investor standards that will give the fund the capacity to achieve reasonable rates of return on investment similar to those of other prudent investors for long-term investments.
(b) Use of generally accepted accounting practices, and expenditure and investing procedures.
(c) Investment policies that are consistent with the Uniform Prudent Investor Act (Article 2.5 (commencing with Section 16045) of Chapter 1 of Part 4 of Division 9 of the Probate Code), and with the Uniform Management of Institutional Funds Act (Part 7 (commencing with Section 18501) of Division 9 of the Probate Code), as applicable.
Notes and commentary — not statutory text
History
Added by Stats. 2010, Ch. 687, Sec. 2. (AB 2503) Effective January 1, 2011.
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=PRC§ionNum=71561.
- Text hash
- sha256 fc8f53c0232e2ca3ae8ac87a51d06121121a03cbc110890a58c4593c657d9ada
- 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.
Probate Code
- Prob. Code, div. 9, pt. 4, ch. 1, art. 2.5Uniform Prudent Investor ActPrinted as Article 2.5 (commencing with Section 16045) of Chapter 1 of Part 4 of Division 9 of the Probate Code
- Prob. Code, div. 9, pt. 7UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACTPrinted as Part 7 (commencing with Section 18501) of Division 9 of the Probate 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.