California § 16345 - This section does not apply to an obligation to which Section 16348, 16349, 16350
Full text of California Public Contract Code - PCC § 16345 — This section does not apply to an obligation to which Section 16348, 16349, 16350, with citation guidance and answers to common questions.
§ 16345. This section does not apply to an obligation to which Section 16348, 16349, 16350
(a) This section does not apply to an obligation to which Section 16348, 16349, 16350, 16351, 16353, 16354, or 16355 applies. (b) A fiduciary shall allocate to income, without provision for amortization of premium, an amount received as interest on an obligation to pay money to the fiduciary, including an amount received as consideration for prepaying principal. (c) A fiduciary shall allocate to principal an amount received from the sale, redemption, or other disposition of an obligation to pay money to the fiduciary. A fiduciary shall allocate to income the increment in value of a bond or other obligation for the payment of money bearing no stated interest but payable or redeemable, at maturity or another future time, in an amount that exceeds the amount in consideration of which it was issued.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 16345
What does Public Contract Code - PCC § 16345 cover?
Section 16345 ("This section does not apply to an obligation to which Section 16348, 16349, 16350") 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 § 16345?
A common citation format is "Public Contract Code - PCC § 16345" (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 § 16345 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.