California Government Code

§ 7514.7

GOV § 7514.7 Effective Jan 1, 2022Div. 7 · Title 1 · Ch. 21 · Art. 1

Statute text

(a)Every public investment fund shall require each alternative investment vehicle in which it invests to make the following disclosures at least annually:

(1)The fees and expenses that the public investment fund pays directly to the alternative investment vehicle, the fund manager, or related parties.

(2)The public investment fund’s pro rata share of fees and expenses not included in paragraph (1) that are paid from the alternative investment vehicle to the fund manager or related parties. The public investment fund may independently calculate this information based on information contractually required to be provided by the alternative investment vehicle to the public investment fund. If the public investment fund independently calculates this information, then the alternative investment vehicle shall not be required to provide the information identified in this paragraph.

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Legislative history

Amended by Stats. 2021, Ch. 615, Sec. 148. (AB 474) Effective January 1, 2022. Operative January 1, 2023, pursuant to Section 463 of Stats. 2021, Ch. 615.