California § 7514.3. 7514.3. (Added by Stats. 2004, Ch. 266, Sec. 1.)

California Statutes

§ 7514.3. — 7514.3. (Added by Stats. 2004, Ch. 266, Sec. 1.)

California·Code GOV Government Code - GOV·Div. 7.·Title 1. DIVISION 7. MISCELLANEOUS·Ch. 21. CHAPTER 21. Public Pension and Retirement Plans·Art. 1. ARTICLE 1. General Provisions

Notwithstanding any other provision of law,  state pension systems may, subject to and consistent with their fiduciary duties and the standard for prudent investment set forth in Section 20190 of this code and Section 17 of Article XVI of the California Constitution, establish credit enhancement programs to assist entities of state and local government and other issuers of municipal and public finance debt to secure more favorable financing terms through a variety of types of credit enhancement including, but not limited to, enhancement of the credit of bonds, notes, and other indebtedness.  Any credit enhancement program shall comply with the requirements of Section 503 of the Internal Revenue Code.

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Notwithstanding any other provision of law, state pension systems may, subject to and consistent with their fiduciary duties and the standard for prudent investment set forth in Section 20190 of this code and Section 17 of Article XVI of the California Constitution, establish credit enhancement programs to assist entities of state and local government and other issuers of municipal and public finance debt to secure more favorable financing terms through a variety of types of credit enhancement including, but not limited to, enhancement of the credit of bonds, notes, and other indebtedness. Any credit enhancement program shall comply with the requirements of Section 503 of the Internal Revenue Code.

California § 7514.3. (7514.3. (Added by Stats. 2004, Ch. 266, Sec. 1.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.