Notwithstanding any other provision of law, the board may make investments related to the planning, development, or acquisition of surplus real property owned by an employer, if the investment satisfies the requirements of Section 22250 and does not constitute a prohibited transaction for purposes of Section 503 of the Internal Revenue Code.
Cal. Educ. Code § 22261
Fiduciary Duties
Known as the E. Richard Barnes Act
The act spans §§ 22000–25115 (716 sections).
Added by Stats. 2002, Ch. 903, Sec. 1
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.