Go to Previous Versions
of
this Section
2025 California Code
Public Utilities Code - PUC
DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT
CHAPTER 5 - Retirement System
ARTICLE 3 - Retirement Board
Section 12364.
Universal Citation:
CA Pub Util Code § 12364 (2025)
Learn more
This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
12364. If the district maintains its own retirement fund, the retirement board shall have exclusive control of the administration, investment, and disbursement of the retirement fund. The retirement fund is a trust fund held for the exclusive purposes of providing benefits to members of the retirement system and their survivors and beneficiaries. Investment of the fund shall be subject to the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims.
(Amended by Stats. 1984, Ch. 1738, Sec. 33. Effective September 30, 1984.)
Disclaimer: These codes may not be the most recent version. California may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
