California Statutes
§ 20537. — 20537. (Amended by Stats. 2023, Ch. 159, Sec. 3.)
California·Code GOV Government Code - GOV·Div. 5.·Title 2. DIVISION 5. PERSONNEL·Part 3. PART 3. PUBLIC EMPLOYEES' RETIREMENT SYSTEM·Ch. 5. CHAPTER 5. Contract Members of System·Art. 3. ARTICLE 3. Contracting Agency Financial Obligations
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.
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California § 20537. (20537. (Amended by Stats. 2023, Ch. 159, Sec. 3.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Stats. 2023, Ch. 159, Sec. 3. (SB 885) Effective January 1, 2024.