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Current as of January 01, 2023 | Updated by FindLaw Staff
The Public Employees' Deferred Compensation Fund is hereby established. Notwithstanding any other provision of law, the board may:
(a) Establish one or more accounts, trusts, group trusts, or similar vehicles within the fund.
(b) Retain a bank, trust company, or similar entity to serve as repository of the fund, or of any account, trust, group trust, or other similar vehicle within the fund.
The board may also retain a bank or trust company to serve as a custodian for safekeeping, recordkeeping, delivery, securities valuation, investment performance reporting, or other services in connection with investment of the fund or of any account, trust, group trust, or similar vehicle within the fund.
Notwithstanding Section 13340, all moneys in the fund are continuously appropriated, without regard to fiscal years, to the board to carry out the purposes of this chapter.
Cite this article: FindLaw.com - California Code, Government Code - GOV § 21676 - last updated January 01, 2023 | https://codes.findlaw.com/ca/government-code/gov-sect-21676/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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