California Civil Code

§ 1916.2

CIV § 1916.2Div. 3 · Title 4 · Part 4 · Ch. 3

Statute text

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.

Legislative history

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