California § 53216.1. 53216.1. (Repealed and added by Stats. 1984, Ch. 1738, Sec. 28.)

California Statutes

§ 53216.1. — 53216.1. (Repealed and added by Stats. 1984, Ch. 1738, Sec. 28.)

California·Code GOV Government Code - GOV·Div. 2.·Title 5. DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES·Part 1. PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES·Ch. 2. CHAPTER 2. Officers and Employees·Art. 1.5. ARTICLE 1.5. Pension Trusts

It is the intent of the Legislature, consistent with the mandate of the voters in passing Proposition 21 at the June 5, 1984, Primary Election, to allow the board of any retirement system governed by this article to invest in any form or type of investment deemed prudent by the board pursuant to the requirements of Sections 53216.5 and 53216.6. It is also the intent of the Legislature to repeal, or amend as appropriate, certain statutory provisions, whether substantive or procedural in nature, that restrict the form, type, or amount of investments that would otherwise be considered prudent under the terms of those sections. This will increase the flexibility and range of investment choice available to these retirement systems, while ensuring protection of the interests of their beneficiari

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It is the intent of the Legislature, consistent with the mandate of the voters in passing Proposition 21 at the June 5, 1984, Primary Election, to allow the board of any retirement system governed by this article to invest in any form or type of investment deemed prudent by the board pursuant to the requirements of Sections 53216.5 and 53216.6. It is also the intent of the Legislature to repeal, or amend as appropriate, certain statutory provisions, whether substantive or procedural in nature, that restrict the form, type, or amount of investments that would otherwise be considered prudent under the terms of those sections. This will increase the flexibility and range of investment choice available to these retirement systems, while ensuring protection of the interests of their beneficiaries.

California § 53216.1. (53216.1. (Repealed and added by Stats. 1984, Ch. 1738, Sec. 28.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.