Upon a finding by the board that necessary investment expertise is not available within existing civil service classifications, and with the approval of the State Personnel Board, the board may contract with qualified investment managers having demonstrated expertise in the management of large and diverse investment portfolios to render service in connection with the investment program of the board.
(Amended by Stats. 2012, Ch. 728, Sec. 30. (SB 71) Effective January 1, 2013.)