Upon a finding by the board that necessary investment expertise is not available within existing civil service classifications, and with the approval of the State Personnel Board, the board may, pursuant to policy adopted by the board, establish competitive bidding processes, and specify the contract terms and conditions it solely deems necessary and prudent to contract with qualified investment managers and investment advisers, as defined in Section 22143, having demonstrated expertise in managing, or advising the management of, large and diverse investment portfolios to render service in connection with the investment program of the board.
Cal. Educ. Code § 22352
Investments
Known as the E. Richard Barnes Act
The act spans §§ 22000–25115 (716 sections).
Amended by Stats. 2021, Ch. 619, 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.