DIVISION 3. OBLIGATIONS 1427-3272.9›PART 4. OBLIGATIONS ARISING FROM PARTICULAR TRANSACTIONS 1738-3273›TITLE 4. LOAN 1884-1923.10›CHAPTER 3. Loan of Money 1912-1916.12
§ 1916.2
California Civil Code · 2018-11 edition · updated 2026-10-04 · California
The restrictions upon rates of interest contained in Section 1 of Article XV of the California Constitution do not apply to any loans made by, or forbearances of, a public retirement or pension system that is created, authorized, and regulated by the laws of a state other than California, or the laws of a local agency of a state other than California.
This section establishes as an exempt class of persons pursuant to Section 1 of Article XV of the California Constitution, any public retirement or pension system that is created, authorized, and regulated by the laws of a state other than California, or the laws of a local agency of a state other than California.
(Added by Stats. 1987, Ch. 764, Sec. 5.)
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