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2019 California Code
Government Code - GOV
TITLE 5 - LOCAL AGENCIES
DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES
PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES
CHAPTER 2 - Officers and Employees
ARTICLE 1.5 - Pension Trusts
Section 53216.8.
Universal Citation: CA Govt Code § 53216.8 (2019)
53216.8.
In the case of a pension trust established pursuant to this article which provides for individual accounts and permits a participant or beneficiary to direct investments in his or her account, if a participant or beneficiary directs investments in his or her account, no person who is a corporate custodian or a corporate trustee that provides services to the pension trust shall be liable for any loss, or by reason of any breach, which results from that participant’s or beneficiary’s directions with respect to the assets in his or her account.
(Added by Stats. 2000, Ch. 34, Sec. 1. Effective January 1, 2001.)
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