(a) Notwithstanding any other provision of law except Chapter 7 (commencing with Section 16649.80) of Part 2 of Division 4 of Title 2, any state or local public retirement system may invest, subject to and consistent with the standard for prudent investment set forth in § 17 of Article XVI of the California Constitution, its assets in the bonds or other evidences of indebtedness unconditionally guaranteed by any foreign government that has met the payments of similar bonds or other evidences of indebtedness when due.

(b) A portion of the assets invested pursuant to this section may be used to purchase rated or unrated bonds, notes, or other instruments unconditionally guaranteed by Canada, Israel, Mexico, or South Africa.

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Terms Used In California Government Code 7514

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • State: means the State of California, unless applied to the different parts of the United States. See California Government Code 18

(Amended by Stats. 1994, Ch. 46, Sec. 1. Effective January 1, 1995.)

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