§ 3.85.030. Trustee liability.

A.

The provisions of section 7.20.060 notwithstanding, the board shall have the authority to retain its own legal counsel, actuaries and other professional advisors to assist the board in the performance of its duties. The board may act without independent investigation upon the professional advice of the advisor so retained.

B.

The board is authorized to prosecute or defend actions, claims or proceedings of any kind or nature for the protection of the fund assets or for the protection of the board in the performance of its duties.

C.

Neither the board nor any of its individual members shall have any personal liability for any action taken in good faith.

D.

No trustee shall be responsible at his or her own expense, to take legal action to correct the misconduct of any other member of the board of trustees. A trustee shall have an affirmative obligation, however, to publicly reveal any misfeasance, malfeasance or nonfeasance by a co-trustee, and upon making such revelation in a public meeting, shall be relieved from further responsibility of the actions of the co-trustee.

E.

The provisions of Title 7 notwithstanding, the board shall have the authority to acquire policies of insurance at the expense of the system for fiduciary liability independent of municipal risk management insurance services.

(AO No. 2000-65, § 3, 4-18-00; AO No. 2002-54, § 4, 3-19-02)