Statute · California Government Code
Cal. Gov't Code § 20537 — Contracting Agency Financial Obligations
Cal. Gov't Code § 20537
- Type
- Statute
- Source
- California Government Code
- Jurisdiction
- California
- Date
- 2024-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
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.
Citator
Cal. Gov't Code § 20537 — Contracting Agency Financial Obligations is in force in the current edition of the Code, and nothing recorded condemns it.
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.