California Legal Codes and Statutes

§ 20537

Amended by Stats. 2023, Ch. 159, Sec. 3. (SB 885) Effective January 1, 2024.

The board may charge interest on the amount of any payment due and unpaid by a contracting agency until payment is received. Interest shall be charged at a simple annual rate of 10 percent. The interest shall be deemed interest earnings for the year in which the late payment is received.

Cite this section

Cal. Gov. Code § 20537 (2026)
https://ca.codecond.com/codes/gov/title-2-government-of-the-state-of-california/division-5-personnel/part-3-public-employees-retirement-system/chapter-5-contract-members-of-system/article-3-contracting-agency-financial-obligations/section-20537

Other sections in Article 3 - Contracting Agency Financial Obligations

§ 20530§ 20530.1§ 20531§ 20532§ 20533§ 20534§ 20535§ 20536§ 20537§ 20538

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