California Health and Safety Code

§ 80375

HSC § 80375 Effective Jan 1, 2023Div. 45 · Part 2 · Ch. 10 · Art. 4

Statute text

The rate of interest to be applied to loans made pursuant to this chapter shall be the same rate earned on investments in the Surplus Money Investment Fund during the loan repayment period. If a loan recipient defaults on a loan, the rate of interest to be applied to the loan shall be 10 percent from the date of default, or whatever greater rate is reflected in the agreement entered into pursuant to subdivision (a) of Section 80520.

Legislative history

Added by Stats. 2022, Ch. 257, Sec. 2. (AB 2293) Effective January 1, 2023. Operative January 1, 2024, pursuant to Sec. 4 of Stats. 2022, Ch. 257.