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

California § 25054.

• Jurisdiction: 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

Text

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.

Legislative History

Added by Stats. 1955, Ch. 1036.