Statute · California Public Utilities Code
Cal. Pub. Util. Code § 102432 — Retirement System
Cal. Pub. Util. Code § 102432
- Type
- Statute
- Source
- California Public Utilities Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
Whenever the 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,…
Citator
Cal. Pub. Util. Code § 102432 — Retirement System is in force in the current edition of the Code, and nothing recorded condemns it.
Whenever the 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.
Whenever any such facilities are acquired by the district, the board shall consider and take into account the outstanding obligations and liabilities of the publicly or privately owned public utility by reason of such pension plan, and shall negotiate an allowance in the purchase price of such utility for the assumption of such obligations and liabilities when acquiring the facilities.