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.
Cal. Health & Safety Code § 80375
Loans Generally
Known as the Carpenter-Presley-Tanner Hazardous Substance Account Act
The act spans §§ 78000–81050 (357 sections).
Added by Stats. 2022, Ch. 257, Sec. 2
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.