California § 25054. 25054. (Added by Stats. 1955, Ch. 1036.)

California Statutes

§ 25054. — 25054. (Added by Stats. 1955, Ch. 1036.)

California·Code PUC Public Utilities Code - PUC·Div. 10. DIVISION 10. TRANSIT DISTRICTS·Part 1. PART 1. TRANSIT DISTRICTS IN COUNTIES OF ALAMEDA OR CONTRA COSTA·Ch. 4. CHAPTER 4. Labor Provisions

Whenever any district acquires existing facilities from a publicly or privately owned public utility, either in proceedings in eminent domain or otherwise, that has a pension plan in operation, members and beneficiaries of such pension plan shall continue to have the rights, privileges, benefits, obligations and status with respect to such established system; provided, however, that the outstanding obligations and liabilities of such public utility by reason of such pension plan have been considered and taken into account and allowance made for in the purchase price of such public utility.

Free access — add to your briefcase to read the full text and ask questions with AI

Whenever any district acquires existing facilities from a publicly or privately owned public utility, either in proceedings in eminent domain or otherwise, that has a pension plan in operation, members and beneficiaries of such pension plan shall continue to have the rights, privileges, benefits, obligations and status with respect to such established system; provided, however, that the outstanding obligations and liabilities of such public utility by reason of such pension plan have been considered and taken into account and allowance made for in the purchase price of such public utility.

California § 25054. (25054. (Added by Stats. 1955, Ch. 1036.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Added by Stats. 1955, Ch. 1036.

View on official source ↗