Section 20537 Of Article 3. Contracting Agency Financial Obligations From California Government Code >> Division 5. >> Title 2. >> Part 3. >> Chapter 5. >> Article 3.

. 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 the actuarial interest rate. The interest shall be deemed interest earnings for the year in which the late payment is received.