California · Government Code
GOV §20150: A board member or employee of the board shall not, directly or indirectly: (a) Have any interest in the making of any investment, or in the gains or profits accruing therefrom.
Read the full statutory text
A board member or employee of the board shall not, directly or indirectly: (a) Have any interest in the making of any investment, or in the gains or profits accruing therefrom. (b) For himself or herself or as an agent or partner of others, borrow any funds or deposits of this system, nor use those funds or deposits in any manner except to make current and necessary payments authorized by the board. (c) Become an indorser, surety or obligor on investments by the board.
Verify at the official source: California legislative text
Facing this? Know exactly what happens next.
MOFRD turns this code section into your situation: the deadlines that apply to you, the forms your county uses, and the resolution paths people in your position actually take. Free for 3 days — no card required.
This page is legal information, not legal advice. Code text is sourced from official publications and may lag amendments — always confirm at the official source linked above. Plain-English summaries and relationship data are AI-derived and reviewed on an ongoing basis; verify with a licensed attorney before acting.