California Code of Regulations
Title 10 - Investment
Chapter 5 - Insurance Commissioner
Subchapter 4 - Insurer Securities Permits
Article 12 - Contribution Certificates
Section 2612.04 - Interest Rate on
Universal Citation: 10 CA Code of Regs 2612.04
Current through Register 2024 Notice Reg. No. 38, September 20, 2024
The rate of interest to be paid for such borrowing is a matter of private contract, but agreement to pay an excessive rate may invoke the ban of Section 839. Absent unusual circumstances, a rate of not more than 1 1/2 % above the prevailing prime bank rate is not regarded as excessive. (Secs. 839, 843)
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