LOANS AND CREDIT.

Los Angeles Municipal Code § 49.7.9

in effect

SEC. 49.7.9. LOANS AND CREDIT. A. A loan is a contribution from the maker and the guarantor of the loan and is subject to any applicable contribution limitations of Charter Section 470 and this Article. B. A loan to a candidate or a City controlled committee shall be by written agreement and a copy of the agreement shall be filed with the campaign statement on which the loan is first reported. (Amended by Ord. No. 188,577, Eff. 5/18/25.) C. The proceeds of a loan made to a candidate by a commercial lending institution in the regular course of business on the same terms available to members of the public and which is secured or guaranteed is not a contribution within the meaning of the contribution limitations of Charter Section 470 and this Article. D. Credit (other than a loan referred to in Subsection C.) that is extended for a period of more than 90 days is subject to the contribution limitations of Charter Section 470 and this Article. A creditor who demonstrates a commercially reasonable attempt to collect the debt is not subject to the contribution limits for that debt. E. An elected City officer who was a participating candidate and made a personal loan to their own candidate’s controlled committee for elected City office shall not repay the loan from their own controlled committee if the candidate exceeded an applicable spending limit before the limit was lifted. (Amended by Ord. No. 188,577, Eff. 5/18/25.) F. (Deleted by Ord. No. 188,577, Eff. 5/18/25.)

Source: City of Los Angeles, Charter and Codes (American Legal Publishing, codelibrary.amlegal.com)URL: https://codelibrary.amlegal.com/codes/los_angeles/latest/lamc/0-0-0-223719Fetched: 10/24/2026