California Government Code

§ 87461

GOV § 87461 Effective Jan 1, 2022Title 9 · Ch. 7 · Art. 4.6

Statute text

(a)Except as set forth in subdivision (b), an elected officer of a state or local government agency shall not, from the date of the elected officer’s election to office through the date the elected officer vacates office, receive a personal loan of five hundred dollars ($500) or more, except when the loan is in writing and clearly states the terms of the loan, including the parties to the loan agreement, date of the loan, amount of the loan, term of the loan, date or dates when payments shall be due on the loan and the amount of the payments, and the rate of interest paid on the loan.

(b)This section does not apply to the following types of loans:

(1)Loans made to the campaign committee of the elected officer.

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Legislative history

Amended by Stats. 2021, Ch. 50, Sec. 217. (AB 378) Effective January 1, 2022.