6930. As used in this chapter: (a) “Governmental investor” means the Treasurer, the Teachers’ Retirement Board, and the Board of Administration of the Public Employees’ Retirement System. “Governmental investor” also means each county treasurer, each city treasurer, each public governing or investing body or public investing officer, who exercises investment discretion over public funds in excess […]
6931. Each securities transaction or brokerage agreement carried out for a governmental investor pursuant to a soft dollar and directed brokerage arrangement, as defined in subdivision (b) of Section 6930, shall be executed at the lowest responsible transaction cost available. (Added by Stats. 1990, Ch. 709, Sec. 1.)
6932. Any written contract entered into between a governmental investor and an investment manager on or after January 1, 1991, for the management of assets of a public fund or a public pension or retirement fund, which includes a soft dollar and directed brokerage arrangement, shall contain the following requirements: (a) The investment manager shall maintain […]
6933. Soft dollar and directed brokerage arrangements are not subject to any statutory competitive bidding requirements. This section does not constitute a change in, but is declaratory of, existing law. (Added by Stats. 1990, Ch. 709, Sec. 1.)
6934. This chapter shall apply to contracts entered into, renewed, or extended on and after January 1, 1991. (Added by Stats. 1990, Ch. 709, Sec. 1.)
