(a) The Board of Administration of the Public Employees’ Retirement System shall not be liable for any action or failure to act by the board of the California State Fire Employees Welfare Benefit Corporation. Upon transfer of the award system, the board of the California State Fire Employees Welfare Benefit Corporation shall assume all responsibilities and liabilities related to the award system.

(b) As of the date of the transfer or termination of the award system, the Board of Administration of the Public Employees’ Retirement System shall have no liability or responsibility for the administration of the award system.

Terms Used In California Government Code 50976

  • Award: means monthly payments for life derived from contributions by a department. See California Government Code 50952
  • Award system: means the Volunteer Firefighters Length of Service Award System established by this chapter. See California Government Code 50952
  • Board: means the board of the California State Fire Employees Welfare Benefit Corporation. See California Government Code 50952
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • State: means the State of California, unless applied to the different parts of the United States. See California Government Code 18

(Repealed and added by Stats. 2007, Ch. 651, Sec. 2. Effective January 1, 2008. Operative March 1, 2008, by Section 50979.)

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