California Legal Codes and Statutes

§ 16642

Current Version

Amended by Stats. 2019, Ch. 459, Sec. 3. (AB 1320) Effective January 1, 2020. Repealed conditionally as prescribed by its own provisions. See later operative version added by Sec. 4 of Stats. 2019, Ch. 41.

(a)Present, future, and former board members of the Public Employees’ Retirement System or the State Teachers’ Retirement System, jointly and individually, state officers and employees, research firms described in subdivision (d) of Section 7513.6, and investment managers under contract with the Public Employees’ Retirement System or the State Teachers’ Retirement System shall be indemnified from the General Fund and held harmless by the State of California from all claims, demands, suits, actions, damages, judgments, costs, charges, and expenses,

including court costs and attorney’s fees, and against all liability, losses, and damages of any nature whatsoever that these present, future, or former board members, officers, employees, research firms as described in subdivision (d) of Section 7513.6, or contract investment managers shall or may at any time sustain by reason of any decision to restrict, reduce, or eliminate investments pursuant to Sections 7513.6, 7513.7, 7513.74, and 7513.75.

(b)This section shall remain in effect only until Section 7513.74 is repealed, and as of that date is repealed.
Future Version

Repealed (in Sec. 3) and added by Stats. 2019, Ch. 459, Sec. 4. (AB 1320) Effective January 1, 2020. Conditionally operative as prescribed by its own provisions.

(a)Present, future, and former board members of the Public Employees’ Retirement System or the State Teachers’ Retirement System, jointly and individually, state officers and employees, research firms described in subdivision (d) of Section 7513.6, and investment managers under contract with the Public Employees’ Retirement System or the State Teachers’ Retirement System shall be indemnified from the General Fund and held harmless by the State of California from all claims, demands, suits, actions, damages, judgments, costs, charges, and expenses, including court costs and attorney’s fees, and against all liability, losses, and damages of any nature whatsoever that these present, future, or former board members, officers, employees, research firms as described in subdivision (d) of Section 7513.6, or

contract investment managers shall or may at any time sustain by reason of any decision to restrict, reduce, or eliminate investments pursuant to Sections 7513.6, 7513.7, and 7513.75.

(b)This section shall become operative upon the repeal of Section 7513.74.

Cite this section

Cal. Gov. Code § 16642 (2026)
https://ca.codecond.com/codes/gov/title-2-government-of-the-state-of-california/division-4-fiscal-affairs/part-2-state-funds/chapter-5-indemnification/section-16642

Other sections in Chapter 5 - Indemnification

§ 16640§ 16641§ 16641.5§ 16642

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