Public Utilities Code section 25364

If the district maintains its own retirement fund, the retirement board shall have exclusive control of the administration, investment, and disbursement of the retirement fund. The retirement fund is a trust fund held for the exclusive purposes of providing benefits to members of the retirement system and their survivors and beneficiaries. Investment of the fund is subject to the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with these matters would use in the conduct of an enterprise of a like character and with like aims.

Source: Section 25364, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=PUC§ionNum=25364. (updated Jul. 17, 1990; accessed Dec. 29, 2025).

25361
25362
25363
25364

Up to date

Verified:
Dec. 29, 2025

§ 25364's source at ca.gov

Stay Connected

Join thousands of people who receive monthly site updates.

Get Legal Help

The State Bar of California runs a service for finding an attorney in good standing. Initial consultations are usually free or discounted: Certified Lawyer Referral Services Directory

Committed to Public Service

We will always provide free access to the current law. In addition, we provide special support for non-profit, educational, and government users. Through social entrepreneurship, we’re lowering the cost of legal services and increasing citizen access.

Navigate

California:	Codes
Colorado:	C.R.S.
Florida:	Statutes
Nevada:	NRS
New York:	Laws
Oregon:	OAR, ORS
Texas:	Statutes
World:	Rome Statute, International Dictionary

Location: https://california.public.law/codes/public_utilities_code_section_25364

Original Source: Section 25364, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=PUC§ionNum=25364. (last accessed May 12, 2025).