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2025 California Code
Harbors and Navigation Code - HNC
DIVISION 3 - VESSELS
CHAPTER 2 - Civil Actions and Liens
ARTICLE 1 - Bottomry
Section 455.
Universal Citation:
CA Harb & Nav Code § 455 (2025)
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455. Upon a contract of bottomry, the parties may lawfully stipulate for a rate of interest higher than that allowed by the law upon other contracts. But a competent court may reduce the rate stipulated when it appears unjustifiable and exorbitant.
(Enacted by Stats. 1937, Ch. 368.)
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