Section 16470 Of Article 4. Special Fund Investments From California Government Code >> Division 4. >> Title 2. >> Part 2. >> Chapter 3. >> Article 4.
16470
. The Pooled Money Investment Board shall, at such times as it
deems necessary, determine whether any portion of the money then on
deposit in the State Treasury to the credit of any fund, exclusive of
the General Fund, is not necessary for immediate use; and if so, it
shall determine the amount thereof in each such fund, which amount
shall thereupon be designated as "surplus money." This article does
not apply to any fund included within subdivisions (b), (c), (d),
(e), and (f) of Section 16475, or the State Highway Fund, the Public
Employees' Retirement Fund, Legislators' Retirement Fund and State
Teachers' Retirement Fund, or the Unemployment Compensation
Disability Fund.
Any special fund excepted from this article may elect, by filing
with the Pooled Money Investment Board a notice of election, to come
under the provisions of the Surplus Money Investment Fund; which
election shall be revocable by such special fund effective as of
December 31st or June 30th of any year upon 30 or more days' notice
prior to either of said dates.