California Government Code

§ 45308.1

GOV § 45308.1Div. 5 · Title 4 · Ch. 2 · Art. 1

Statute text

All funds received by city retirement systems and not required for current disbursements shall be invested only in:

(a)Securities which are legal for savings bank investments in this state, or which have been certified as legal investments for savings banks pursuant to Division 10 (commencing at Section 20000) of the Water Code.

(b)Securities which, pursuant to the statutes or laws providing for the issuance of such securities, are entitled to the same force or value or use as bonds issued by any municipality.

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Legislative history

Amended by Stats. 1970, Ch. 1094.