Section 25931 Of Chapter 3. Establishment And Control Of Fund From California Education Code >> Division 1. >> Title 1. >> Part 13.5. >> Chapter 3.
25931
. The board shall have exclusive control of the administration
of the fund. No transfers or disbursements of any amount from the
fund shall be made except upon the authorization of the board for the
purpose of carrying into effect the provisions of this part. Except
as otherwise limited by the California Constitution and by law, the
board may, in its discretion, invest the assets of the fund through
the purchase, holding, or sale of any investment, financial
instrument, or financial transaction, when the investment, financial
instrument, or financial transaction is prudent in the informed
opinion of the board.