Cal. Civ. Code § 1916.2

Current through the 2023 Legislative Session.

Section 1916.2 - Inapplicability of constitutional limitations on rates of interest to loans by public retirement or pension systems

The restrictions upon rates of interest contained in Section 1 of Article XV of the California Constitution do not apply to any loans made by, or forbearances of, a public retirement or pension system that is created, authorized, and regulated by the laws of a state other than California, or the laws of a local agency of a state other than California.

This section establishes as an exempt class of persons pursuant to Section 1 of Article XV of the California Constitution, any public retirement or pension system that is created, authorized, and regulated by the laws of a state other than California, or the laws of a local agency of a state other than California.

Ca. Civ. Code § 1916.2

Added by Stats. 1987, Ch. 764, Sec. 5.