The board and its officers and employees of the system shall not do any of the following: (a) Deal with the assets of the plan and the system in their own interest or for their own account. (b) In their individual or in any other capacity, act in any transaction involving the system on behalf of a party, or represent a party, whose interests are adverse to the interests of the plan or the interests of the members and beneficiaries of the Defined Benefit Program, as well as participants and beneficiaries of the Cash Balance Benefit Program. (c) Receive any consideration for their personal account from any party conducting business with the system in connection with a transaction involving the assets of the plan.
‹ Prev All California sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.