California Statutes
§ 12364. — 12364. (Amended by Stats. 1984, Ch. 1738, Sec. 33.)
California § 12364.
JurisdictionCalifornia
Code PUCPublic Utilities Code - PUC
Div. 6.DIVISION 6. MUNICIPAL UTILITY DISTRICT ACT
Ch. 5.CHAPTER 5. Retirement System
Art. 3.ARTICLE 3. Retirement Board
This text of California § 12364. (12364. (Amended by Stats. 1984, Ch. 1738, Sec. 33.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Cal. Public Utilities Code - PUC Code § 12364. (2026).
Text
If the district maintains its own retirement fund, the retirement board shall have exclusive control of the administration, investment, and disbursement of the retirement fund. The retirement fund is a trust fund held for the exclusive purposes of providing benefits to members of the retirement system and their survivors and beneficiaries. Investment of the fund shall be subject to the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims.
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Legislative History
Amended by Stats. 1984, Ch. 1738, Sec. 33. Effective September 30, 1984.
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Bluebook (online)
California § 12364., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/PUC/12364..