DIVISION 3. VESSELS 399-786›CHAPTER 2. Civil Actions and Liens 450-509›ARTICLE 1. Bottomry 450-462

§ 455

California Harbors and Navigation Code · 2020-11 edition · updated 2026-10-04 · California

Upon a contract of bottomry, the parties may lawfully stipulate for a rate of interest higher than that allowed by the law upon other contracts. But a competent court may reduce the rate stipulated when it appears unjustifiable and exorbitant.

(Enacted by Stats. 1937, Ch. 368.)

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California Harbors and Navigation Code

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