Section 25395.31 Of Article 8.5. Cleanup Loans And Environmental Assistance To Neighborhoods From California Health And Safety Code >> Division 20. >> Chapter 6.8. >> Article 8.5.
25395.31
. The rate of interest to be applied to loans made pursuant
to this article shall be the same rate earned on investments in the
Surplus Money Investment Fund during the loan repayment period. If a
loan recipient defaults on a loan, the rate of interest to be applied
to the loan shall be 10 percent from the date of default, or
whatever greater rate is reflected in the agreement entered into
pursuant to subdivision (a) of Section 25395.25.