California § 7503 - Except as specified by the loan contract or by Section 2954.8 of the Civil Code,
Full text of California Public Contract Code - PCC § 7503 — Except as specified by the loan contract or by Section 2954.8 of the Civil Code,, with citation guidance and answers to common questions.
§ 7503. Except as specified by the loan contract or by Section 2954.8 of the Civil Code,
Except as specified by the loan contract or by Section 2954.8 of the Civil Code, an association shall have no obligation to pay interest to the borrower upon funds credited to an impound, trust, or other type of account for payment of taxes, insurance, or other charges relating to the property, or to invest them for the benefit of the borrower, unless the funds have been placed in an interest bearing savings account under the terms of the loan contract.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 7503
What does Public Contract Code - PCC § 7503 cover?
Section 7503 ("Except as specified by the loan contract or by Section 2954.8 of the Civil Code,") 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 § 7503?
A common citation format is "Public Contract Code - PCC § 7503" (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 § 7503 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.