CA Gov't Code Section 11012

Whenever any state agency, including, but not limited to, state agencies acting in a fiduciary capacity, is authorized to invest funds, or to sell or exchange securities, prior approval of the Department of Finance to the investment, sale, or exchange shall be secured. Every state agency shall furnish the Department of Finance with the reports and in the form, relating to the funds or securities, their acquisition, sale, or exchange, as may be requested by the Department of Finance from time to time. This section does not apply to the following state agencies:

(a)

Any state agency if issuing or dealing in securities authorized to be issued by it.

(b)

The State Treasurer.

(c)

The Regents of the University of California.

(d)

Employment Development Department.

(e)

Department of Veterans Affairs.

(f)

Hastings College of Law.

(g)

Board of Administration of the Public Employees’ Retirement System.

(h)

State Compensation Insurance Fund.

(i)

California Transportation Commission and Department of Transportation if acting in accordance with bond resolutions adopted under the California Toll Bridge Authority Act (Chapter 1 (commencing with Section 30000) of Division 17 of the Streets and Highways Code) prior to September 15, 1945.

(j)

Teachers’ Retirement Board of the State Teachers’ Retirement System.

(k)

State Athletic Commission if acting pursuant to Section 18882 of the Business and Professions Code with respect to the Boxers’ Pension Fund.

Source: Section 11012, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=GOV§ionNum=11012.­.

Last Updated

Aug. 19, 2023

§ 11012’s source at ca​.gov