Statute · California Government Code
Cal. Gov't Code § 21602 — Preretirement Group Term Life Insurance
Cal. Gov't Code § 21602
- Type
- Statute
- Source
- California Government Code
- Jurisdiction
- California
- Date
- 1996-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(a) The board shall transfer annually on July 1 during any period of insurance from accumulated state contributions on account of current service to the Insurance Benefits Account the amount estimated to be necessary for payment during that fiscal year, of the portion of the insurance benefit…
Citator
Cal. Gov't Code § 21602 — Preretirement Group Term Life Insurance is in force in the current edition of the Code, and nothing recorded condemns it.
(a) The board shall transfer annually on July 1 during any period of insurance from accumulated state contributions on account of current service to the Insurance Benefits Account the amount estimated to be necessary for payment during that fiscal year, of the portion of the insurance benefit prescribed in subdivision (b) of Section 21605 plus any deficiency in the transfer for the previous fiscal year for that purpose.
(b) If this section is in conflict with the provisions of a memorandum of understanding reached pursuant to Section 3517.5, the memorandum of understanding shall be controlling without further legislative action, except that if the provisions of a memorandum of understanding require the expenditure of funds, the provisions shall not become effective unless approved by the Legislature in the annual Budget Act.