{"data":{"id":"us-ca/gov-21680","jurisdiction":"us-ca","citation":"GOV § 21680","heading":"","body":"Except as otherwise provided by law, the officers and employees of this system shall not engage in a transaction with regard to a tax-preferred retirement savings program if they know or should know that the transaction constitutes, directly or indirectly, any of the following:\n(a) The sale, exchange, or leasing of any property from the program to a participant for less than adequate consideration, or from a participant to the program for more than adequate consideration.\n(b) The lending of money or other extension of credit from the program to a participant without the receipt of adequate security and a reasonable rate of interest, or from a participant to the program with the provision of excessive security or an unreasonably high rate of interest.\n(c) The furnishing of goods, services, or facilities from the program to a participant for less than adequate consideration, or from a participant to the program for more than adequate consideration.\n(d) The transfer to, or use by or for the benefit of, a participant of any assets of the program for less than adequate consideration.","path":["Government Code - GOV","TITLE 2. GOVERNMENT OF THE STATE OF CALIFORNIA [8000. - 22980.]","DIVISION 5. PERSONNEL [18000. - 22980.]","PART 3. PUBLIC EMPLOYEES' RETIREMENT SYSTEM [20000. - 21716.]","CHAPTER 16. Deferred Compensation [21670. - 21685.]"],"source_url":"https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zip","current_through":"2026-09-13","vintage":"","retrieved_at":"2026-09-14T05:56:33Z","sha256":"26c3bdbb39257f989ce2d688b44ff5d865f48f14c6812407dacfaa7795561eb5","source_id":"us-ca","stale":false,"prev":"us-ca/gov-21679","next":"us-ca/gov-21681"},"notice":"GroundRules: Original legal text. Not legal advice."}