Investment counseling - Restrictions.
San José Municipal Code § 3.32.400
in effect3.32.400 - Investment counseling - Restrictions.
A. The board may enter into contractual arrangements with any person or persons or association or associations, who meet the requirements of subsection B. or C., to provide counsel to the board with respect to the board's policies of investing and reinvesting of moneys in the retirement fund. Such contracts shall be entered into in the name of the board of administration for the police and fire department retirement plan.
B. Any person or association who provides services to the board with regard to financial securities:
1. Shall be a person or association whose principal business consists of investment counseling services; and
2. Shall be registered as an investment adviser under such laws as may require such registration.
C. With respect to real estate advisors, the board shall enter into contractual arrangements only with persons or associations whose principal officers are engaged in the business of advising and evaluating commercial, industrial or residential real estate investments, mortgage banking, or property management, and which are licensed as real estate brokers by the State of California.
(Ords. 21607, 25084, 25553.)
Source: City of San José, Municipal Code (Municode Library, library.municode.com)URL: https://library.municode.com/ca/san_jose/codes/code_of_ordinances?nodeId=TIT3PE_IIREPL_CH3.32POFIDEREPL_3.32.400INCOESFetched: 11/1/2026