Section 32269.
32269. After the receipt of the recommendation the board of supervisors shall adjust the rate of interest, the rates of contributions of members, and county appropriations, as it deems advisable, but shall not fix them so as to reduce the amount of individual benefits. (Added by Stats. 1947, Ch. 424.)
Section 32270.
32270. The board has charge and control of the funds of the system and shall administer them and shall order payments therefrom in accordance with this chapter. (Added by Stats. 1947, Ch. 424.)
Section 32271.
32271. The board shall invest and reinvest the funds of the system, and may from time to time sell and invest and reinvest the proceeds of any securities held by it and invest and reinvest all unappropriated income of the funds. All funds received by it not required for current disbursements shall be invested only […]
Section 32272.
32272. Whenever securities belonging to or held for the system are sold, the county treasurer shall deliver the securities sold upon receiving the proceeds and may execute any and all documents necessary to transfer title. The duties imposed upon the county treasurer are a part of his official duties, for the faithful performance of which […]
Section 32257.
32257. The first persons elected or appointed as the second and fourth members shall serve for two years from the operative date, and the third and fifth members so elected or appointed shall serve for a term of three years from the operative date. Thereafter, the term of office of the four elected members is […]
Section 32258.
32258. The first, second, and third members of the board shall serve without compensation, but shall be reimbursed out of the funds of the county for any expense or loss of salary or wages which they incur through services on the board and for costs of operation of this system. (Added by Stats. 1947, Ch. […]
Section 32259.
32259. The fourth and fifth members of the board shall each receive as compensation for his services ten dollars ($10) for each meeting of the board at which he is in attendance, not to exceed 12 board meetings in any one calendar year. (Added by Stats. 1947, Ch. 424.)
Section 32260.
32260. The board shall organize by choosing one of its number as chairman. Thereafter the officers shall be chosen biennially by the board. (Added by Stats. 1947, Ch. 424.)
Section 32261.
32261. The board shall meet for the transaction of business at least once every three months in each calendar year and at other times as it or a majority of its members orders. Notice of all meetings shall be given by the secretary at least three days in advance of the meeting. (Added by Stats. […]
Section 32262.
32262. A majority of the members may transact any business of the board provided that the second or third member is present. (Amended by Stats. 1951, Ch. 1236.)