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Perspective

Jan. 22, 2014

AB 748: Taming interest rates for public entities

In Assembly Bill 748, the state Legislature recently amended the statutes that compel public entities to pay interest rates on claims and judgments that far exceed the prevailing market interest rates. By Robert Wright


By Robert Wright


In Assembly Bill 748, the state Legislature recently amended the statutes that compel public entities to pay interest rates on claims and judgments that far exceed the prevailing market interest rates. These amendments, though limited in their reach, are cause for hope that, in the coming years, Sacramento will finish the job by taming excessive statutory interest rates in all cases and for all litigants.


In October, Gov. Jerry Brown si...

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