Section 17222 Of Article 2. Registration From California Government Code >> Division 4. >> Title 2. >> Part 4. >> Chapter 2. >> Article 2.

. By a majority vote, the committee shall fix the rate of interest paid on registered warrants at not more than 5 percent per annum, except, if the committee determines that it is in the best interests of the state to do so, the committee may fix the rate of interest paid on any registered warrants at no more than 12 percent per annum.