§ 30. Exclusive Benefit of Employees.

Latest version.

All assets of the pension plan shall be held and invested for the sole purpose of meeting the legitimate obligations of the pension plan and shall be used for no other purpose. No part of the assets shall be used for or diverted to purposes other than for the exclusive benefit of members and beneficiaries prior to satisfaction of all pension plan obligations.

(Ord. of 4-16-2001, § 3, Doc. #33723)

                    
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