California § 53216.8. 53216.8. (Added by Stats. 2000, Ch. 34, Sec. 1.)

California Statutes

§ 53216.8. — 53216.8. (Added by Stats. 2000, Ch. 34, Sec. 1.)

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

In the case of a pension trust established pursuant to this article which provides for individual accounts and permits a participant or beneficiary to direct investments in his or her account, if a participant or beneficiary directs investments in his or her account, no person who is a  corporate custodian or a corporate trustee that provides services to the pension trust shall be liable for any loss, or by reason of any breach, which results from that participant’s or beneficiary’s directions with respect to the assets in his or her account.

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In the case of a pension trust established pursuant to this article which provides for individual accounts and permits a participant or beneficiary to direct investments in his or her account, if a participant or beneficiary directs investments in his or her account, no person who is a corporate custodian or a corporate trustee that provides services to the pension trust shall be liable for any loss, or by reason of any breach, which results from that participant’s or beneficiary’s directions with respect to the assets in his or her account.

California § 53216.8. (53216.8. (Added by Stats. 2000, Ch. 34, Sec. 1.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.