California § 20191 - The board may itself make any investment authorized by law or sell any security,
Full text of California Public Contract Code - PCC § 20191 — The board may itself make any investment authorized by law or sell any security,, with citation guidance and answers to common questions.
§ 20191. The board may itself make any investment authorized by law or sell any security,
The board may itself make any investment authorized by law or sell any security, obligation, or real property in which moneys in the retirement fund are invested, by affirmative vote of at least seven members of the board, or by the same affirmative vote may from time to time adopt an investment resolution that shall contain detailed guidelines by which to designate those securities and real property that are acceptable for purchase. While the resolution is in effect, securities and real property may be purchased for investment by an officer or employee of the board designated by it for that purpose, and sales of securities may be consummated by the officer or employee under the conditions prescribed. Purchases and sales of securities shall be reported to the board, on a monthly basis, at its next regular meeting.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 20191
What does Public Contract Code - PCC § 20191 cover?
Section 20191 ("The board may itself make any investment authorized by law or sell any security,") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 20191?
A common citation format is "Public Contract Code - PCC § 20191" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 20191 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.