Laserfiche WebLink
4. Loans made, or offered in writing, before January 1, 1998. <br />(8.3) Section 8.3. Loan Terms. <br />(A) Except as set forth in subdivision (B), no elected officer of a state or local <br />government agency shall, from the date of his or her election to office through the date he or <br />she vacates office, receive a personal loan of five hundred dollars ($500) or more, except when <br />the loan is in writing and clearly states the terms of the loan, including the parties to the loan <br />agreement, date of the loan, amount of the loan, term of the loan, date or dates when payments <br />shall be due on the loan and the amount of the payments, and the rate of interest paid on the <br />loan. <br />(B) This section shall not apply to the following types of loans: <br />1. Loans made to the campaign committee of the elected officer. <br />2. Loans made to the elected officer by his or her spouse, child, parent, grandparent, <br />grandchild, brother, sister, parent-in-law, brother-in-law, sister-in-law, nephew, niece, aunt, <br />uncle, or first cousin, or the spouse of any such person, provided that the person making the <br />loan is not acting as an agent or intermediary for any person not otherwise exempted under this <br />section. <br />3. Loans made, or offered in writing, before January 1, 1998. <br />(C) Nothing in this section shall exempt any person from any other provision of Title 9 of <br />the Government Code. <br />(8.4) Section 8.4. Personal Loans. <br />(A) Except as set forth in subdivision (B), a personal loan received by any designated <br />employee shall become a gift to the designated employee for the purposes of this section in the <br />following circumstances: <br />1. If the loan has a defined date or dates for repayment, when the statute of limitations <br />for filing an action for default has expired. <br />2. If the loan has no defined date or dates for repayment, when one year has elapsed <br />from the later of the following: <br />a. The date the loan was made. <br />b. The date the last payment of one hundred dollars ($100) or more was made on the <br />loan. <br />c. The date upon which the debtor has made payments on the loan aggregating to less <br />than two hundred fifty dollars ($250) during the previous 12 months. <br />(B) This section shall not apply to the following types of loans: <br />1. A loan made to the campaign committee of an elected officer or a candidate for <br />elective office. <br />7 <br />