California Education Code

§ 22259

EDC § 22259 Effective Jan 1, 1997Div. 1 · Title 1 · Part 13 · Ch. 4

Statute text

(a)All board members and officers and employees of the system shall execute a fidelity bond, in an amount determined by the board to be prudent, conditioned upon the faithful performance of the duties of the board member or employee.

(b)All board members and officers and all staff of the investment division who are authorized to invest funds shall be covered with fiduciary liability insurance in an amount determined by the board to be prudent.

Legislative history

Amended by Stats. 1996, Ch. 634, Sec. 62. Effective January 1, 1997.