{"code":"GOV","codeName":"Government Code","section":"20537","citation":"Gov. Code, § 20537","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"TITLE 2. GOVERNMENT OF THE STATE OF CALIFORNIA [8000. - 22980.]","url":"https://blackletter.si/government-code/title-2"},{"name":"DIVISION 5. PERSONNEL [18000. - 22980.]","url":"https://blackletter.si/government-code/title-2/division-5"},{"name":"PART 3. PUBLIC EMPLOYEES' RETIREMENT SYSTEM [20000. - 21716.]","url":"https://blackletter.si/government-code/title-2/division-5/part-3"},{"name":"CHAPTER 5. Contract Members of System [20460. - 20593.]","url":"https://blackletter.si/government-code/title-2/division-5/part-3/chapter-5"},{"name":"ARTICLE 3. Contracting Agency Financial Obligations [20530. - 20538.]","url":"https://blackletter.si/government-code/title-2/division-5/part-3/chapter-5/article-3"}],"history":"Amended by Stats. 2023, Ch. 159, Sec. 3.   (SB 885)   Effective January 1, 2024.","effective":"2024-01-01","html":"<p>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.</p>","text":"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.","otherVersions":[],"url":"https://blackletter.si/government-code/contracting-agency-financial-obligations-20537","source":"California Legislative Information bulk export (pubinfo)"}