36990-36995
PUBLIC RESOURCES CODE
SECTION 36990-36995
36990. (a) The Secretary of the Resources Agency may enter into an agreement with an existing nonprofit corporation with broad experience as the trustee of public funds, court-ordered mitigation funds, or other funds used to assist public agencies in carrying out their responsibilities to establish a nongovernmental trust, to be known as the California Ocean Trust. (b) The purposes of the trust shall be all of the following: (1) To seek funds for California ocean resource science projects, emphasizing the development of new funding sources. (2) To fund California ocean resource science projects that help fulfill the missions of the state's ocean resource management agencies. (3) To encourage coordinated, multiagency, multiinstitution approaches to ocean resource science. (4) To encourage graduate education programs in management-oriented ocean resource science in public and private universities and colleges in California. (5) To encourage new technologies that reduce the cost, increase the amount, or improve the quality of ocean resource management information. (6) To promote more effective coordination of California ocean resource science useful to management agencies. 36991. The trust shall be subject to the Nonprofit Public Benefit Corporation Law, Part 2 (commencing with Section 5110) of Division 2 of Title 1 of the Corporations Code. To the extent of any conflict between this chapter and the Nonprofit Public Benefit Corporation Law, this division shall prevail. 36992. The trust shall have 10 trustees, who shall be appointed as follows: (a) The Secretary of the Resources Agency shall appoint the following trustees, who shall serve at the pleasure of the secretary: (1) One trustee who shall represent the Resources Agency and the departments and commissions within the Resources Agency with ocean resource management responsibilities and who may be an employee of the state. (2) Three trustees from a list of candidates submitted jointly by the President of the University of California and the Chancellor of the California State University, who shall be chosen for their broad knowledge of ocean resource management and science. At least one of the three trustees shall not be an employee or on the faculty of the University of California or California State University. (3) Two trustees who shall be representatives of the public selected primarily for their experience as trustees or directors of for-profit or nonprofit corporations. (4) Two trustees from nominees submitted by coast and ocean interest groups including, but not limited to, interest groups representing sport fishing, commercial fishing, coast and ocean recreation and tourism, marine conservation, and ocean-dependent industries. In making the appointments pursuant to this paragraph, the factors to be considered shall include the nominees' acceptability to a range of coast and ocean interests, and their experience as trustees or directors of for profit or nonprofit corporations. (b) The Secretary for Environmental Protection shall appoint one trustee, who shall serve at the pleasure of the secretary, and who shall have broad knowledge of water quality concerns as they relate to ocean resource management. (c) The Director of Finance shall appoint one trustee, who shall serve at the pleasure of the director. (d) To the extent feasible, the trustees appointed to the trust pursuant to subdivisions (a), (b), and (c) shall balance, and reflect the breadth of, public interests concerned with ocean resources. 36993. (a) Any person who might reasonably be expected at some time to derive a direct financial benefit from the activities of the trust shall be ineligible to serve as a trustee. (b) Subject to the approval of the Secretary for Resources, the trustees shall adopt definitions and rules for the trust with respect to indirect conflicts of interest. (c) All trustees shall serve without compensation. However, trustees may be reimbursed by the trust for reasonable expenses. 36994. (a) The trust shall do all of the following: (1) Expend funds only for the purposes of the trust enumerated in Section 36990 and as further restricted by the sources of the trust's funding. (2) Make written findings for funds committed for projects, indicating how the projects further the purposes of the trust enumerated in Section 36990. (3) Require the recipient of funds to keep records necessary to disclose whether the funds were used for the purposes specified by the trust. (4) Invest and manage the funds of the trust in accordance with the Nonprofit Public Benefit Corporation Law (Part 2 (commencing with Section 5110) of Division 2 of Title 1 of the Corporations Code). (5) The trust shall report in writing annually to the Legislature and to the Chair of the Joint Committee on Fisheries and Aquaculture. The annual report shall include the most recent financial audit of the trust and the written findings required pursuant to paragraph (2). The activities of the trust for any financial year may be audited by the Bureau of State Audits. (b) The trustees shall ensure that the trust, individual trustees acting on behalf of the trust and employees or agents of the trust do not engage in lobbying or contribute to, or otherwise support, any political party, candidate, or ballot issue. (c) This chapter does not expand the authority of the trust to contract for professional services beyond the authority to contract for those services in Section 19130 of the Government Code. 36995. (a) The trust may seek the assistance of advisers, form advisory committees, or otherwise consult with knowledgeable individuals in regard to the business of the trust. (b) Advisers shall serve without compensation. However, advisers may be reimbursed by the trust for reasonable expenses.