California Government Code

§ 31603

GOV § 31603 Effective Jan 1, 2004Div. 4 · Title 3 · Part 3 · Ch. 3 · Art. 5

Statute text

The board of retirement or the board of investments, as applicable, may obtain a loan and pledge a portion of the assets of the retirement fund as security for the repayment of the loan if the board finds all of the following:

(a)An emergency exists affecting the national banking system or financial markets.

(b)The emergency prevents the association from readily accessing its funds.

…

Legislative history

Added by Stats. 2003, Ch. 520, Sec. 6. Effective January 1, 2004.