§ 3838.7. Conflict with other laws
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 72 P.S. Taxation and Fiscal AffairsEffective: November 3, 2022
Effective: November 3, 2022
72 P.S. § 3838.7
§ 3838.7. Conflict with other laws
(a) Compliance.--Except as otherwise provided under subsection (b), a public fund may perform any action necessary to comply with this act, notwithstanding the provisions of any other law, including, but not limited to, any fiduciary or prudent investing responsibilities as prescribed in 20 Pa.C.S. § 7302 (relating to authorized investments; in general), 24 Pa.C.S. § 8521 (relating to management of fund and accounts), 71 Pa.C.S. § 5931 (relating to management of fund and accounts) and section 110 of the act of February 1, 1974 (P.L. 34, No. 15),1 known as the Pennsylvania Municipal Retirement Law, and any obligations of a public fund with respect to choice of asset managers, investment funds or investments for the public fund's securities portfolios.
(b) Applicable standard.--Divestment under section 4(c) shall be made in accordance with any applicable fiduciary or prudent investing responsibilities as prescribed under 20 Pa.C.S. § 7302, 24 Pa.C.S. § 8521 and 71 Pa.C.S. § 5931, section 110 of the Pennsylvania Municipal Retirement Law and any obligations of a public fund with respect to choice of asset managers, investment funds or investments for the public fund's securities portfolios.
Credits
2022, Nov. 3, P.L. 1970, No. 132, § 7, imd. effective.
Footnotes
53 P.S. § 881.110.
72 P.S. § 3838.7, PA ST 72 P.S. § 3838.7
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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