Cal. Gov. Code § 22960.52

Current through the 2024 Legislative Session.

Section 22960.52 - Corpus of income of trust; use

Consistent with the requirements of Section 401(a)(2) of the Internal Revenue Code (26 U.S.C. Sec. 401(a)(2)), the corpus or income of the plan's trust shall not be diverted to, or used for, purposes other than the exclusive benefit of the members or their beneficiaries nor shall there be a reversion of trust funds except as permitted by Revenue Ruling 91-4, 1991-1 C.B. 57, by the Internal Revenue Service.

Ca. Gov. Code § 22960.52

Renumbered from Ca. Gov. Code §22960.51 and amended by Stats 2015 ch 303 (AB 731),s 222, eff. 1/1/2016.

Added by Stats 2014 ch 790 (AB 611),s 3, eff. 9/29/2014.