California § 1556 - Pursuant to the authority contained in Section 1 of Article XV of the California
Full text of California Public Contract Code - PCC § 1556 — Pursuant to the authority contained in Section 1 of Article XV of the California, with citation guidance and answers to common questions.
§ 1556. Pursuant to the authority contained in Section 1 of Article XV of the California
Pursuant to the authority contained in Section 1 of Article XV of the California Constitution, the restrictions upon rates of interest contained in Section 1 of Article XV of the California Constitution shall not apply to any obligations of, loans made or arranged by, or forbearances of, any of the following that is authorized to engage in the trust business, when acting in its fiduciary capacity: (a) Any California state bank. (b) Any national bank that maintains its main office or a branch office in this state. (c) Any foreign (other state) state bank that maintains a branch office in this state. This section creates and authorizes an exempt class of persons pursuant to Section 1 of Article XV of the Constitution. This section does not exempt a bank authorized to transact a trust business or a subsidiary thereof from complying with all other laws and regulations governing the business in which the bank or subsidiary is engaged.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 1556
What does Public Contract Code - PCC § 1556 cover?
Section 1556 ("Pursuant to the authority contained in Section 1 of Article XV of the California") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 1556?
A common citation format is "Public Contract Code - PCC § 1556" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 1556 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.