California § 7509 - The restrictions upon rates of interest contained in Section 1 of Article XV of t
Full text of California Public Contract Code - PCC § 7509 — The restrictions upon rates of interest contained in Section 1 of Article XV of t, with citation guidance and answers to common questions.
§ 7509. The restrictions upon rates of interest contained in Section 1 of Article XV of t
(a) The restrictions upon rates of interest contained in Section 1 of Article XV of the California Constitution shall not apply to any loans made by, or forbearances of, any state or local public retirement system, including, but not limited to, any public retirement system authorized and regulated by the State Teachersâ Retirement Law, the Public Employeesâ Retirement Law, the County Employees Retirement Law of 1937, any public retirement system administered by the Teachers Retirement Board or Board of Administration of the Public Employeesâ Retirement System, or any public retirement system acting pursuant to the laws of this state or the laws of any local agency. (b) For the purposes of this section, âlocal agencyâ means county, city, city and county, district, school district, or any public or municipal corporation, political subdivision, or other public agency of the state, or any instrumentality of one or more of these agencies. (c) This section creates and authorizes any state or local retirement system as an exempt class of persons pursuant to Section 1 of Article XV of the California Constitution.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 7509
What does Public Contract Code - PCC § 7509 cover?
Section 7509 ("The restrictions upon rates of interest contained in Section 1 of Article XV of t") 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 § 7509?
A common citation format is "Public Contract Code - PCC § 7509" (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 § 7509 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.