Statute · California Government Code
Cal. Gov't Code § 31594 — Financial Provisions
Cal. Gov't Code § 31594
- Type
- Statute
- Source
- California Government Code
- Jurisdiction
- California
- Date
- 1984-09-30
- Current through
- Nov 2, 2026 (California Legislative Counsel)
It is the intent of the Legislature, consistent with the mandate of the voters in passing Proposition 21 at the June 5, 1984, Primary Election, to allow the board of any retirement system governed by this chapter to invest in any form or type of investment deemed prudent by the board pursuant to…
Citator
Cal. Gov't Code § 31594 — Financial Provisions is in force in the current edition of the Code, and nothing recorded condemns it.
It is the intent of the Legislature, consistent with the mandate of the voters in passing Proposition 21 at the June 5, 1984, Primary Election, to allow the board of any retirement system governed by this chapter to invest in any form or type of investment deemed prudent by the board pursuant to the requirements of Section 31595. It is also the intent of the Legislature to repeal, or amend as appropriate, certain statutory provisions, whether substantive or procedural in nature, that restrict the form, type, or amount of investments that would otherwise be considered prudent under the terms of that section. This will increase the flexibility and range of investment choice available to these retirement systems, while ensuring protection of the interests of their beneficiaries.