California · Public Utilities Code - PUC
PUC §12365.6: In addition to such other investments that are authorized by this article, the retirement board may, in its discretion, invest the assets of the retirement fund in deeds of trust and mortgages.
What this law says, in plain English
A retirement board may invest fund assets in deeds of trust and mortgages, in addition to other authorized investments.
Read the full statutory text
In addition to such other investments that are authorized by this article, the retirement board may, in its discretion, invest the assets of the retirement fund in deeds of trust and mortgages. Investments made under this section shall not exceed, in the aggregate, an amount equal to 25 percent of the assets of the system.
Verify at the official source: California legislative text
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