The department shall require the payment of interest on each loan that is made pursuant to this chapter after the effective date of the 1967 act amending this section, at a rate of 212 percent per annum.
Cal. Water Code § 12885.8
Loans
Known as the Davis-Grunsky Act
The act spans §§ 12880–12893 (49 sections).
Amended by Stats. 1967, Ch. 179.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.