Section 36993 - Ineligibility to serve as trustee; adoption of definitions and rules for trust; expenses(a) Any person who might reasonably be expected at some time to derive a direct financial benefit from the activities of the trust shall be ineligible to serve as a trustee.(b) Subject to the approval of the Secretary for Resources, the trustees shall adopt definitions and rules for the trust with respect to indirect conflicts of interest.(c) All trustees shall serve without compensation. However, trustees may be reimbursed by the trust for reasonable expenses.Ca. Pub. Res. Code § 36993
Added by Stats 2000 ch 516 (AB 2387), s 1, eff. 1/1/2001.