Section 87460 - General prohibition; exceptions(a) An elected officer of a state or local government agency shall not, from the date of the elected officer's election to office through the date that the elected officer vacates office, receive a personal loan from any officer, employee, member, or consultant of the state or local government agency in which the elected officer holds office or over which the elected officer's agency has direction and control.(b) A public official who is required to file a statement of economic interests pursuant to Section 87200 or a public official who is exempt from the state civil service system pursuant to subdivisions (c), (d), (e), (f), and (g) of Section 4 of Article VII of the Constitution shall not, while the public official holds office, receive a personal loan from any officer, employee, member, or consultant of the state or local government agency in which the public official holds office or over which the public official's agency has direction and control. This subdivision does not apply to loans made to a public official whose duties are solely secretarial, clerical, or manual.(c) An elected officer of a state or local government agency shall not, from the date of the elected officer's election to office through the date that the elected officer vacates office, receive a personal loan from any person who has a contract with the state or local government agency to which that elected officer has been elected or over which that elected officer's agency has direction and control. This subdivision does not apply to loans made by banks or other financial institutions or to any indebtedness created as part of a retail installment or credit card transaction, if the loan is made or the indebtedness created in the lender's regular course of business on terms available to members of the public without regard to the elected officer's official status.(d) A public official who is required to file a statement of economic interests pursuant to Section 87200 or a public official who is exempt from the state civil service system pursuant to subdivisions (c), (d), (e), (f), and (g) of Section 4 of Article VII of the Constitution shall not, while the public official holds office, receive a personal loan from any person who has a contract with the state or local government agency to which that elected officer has been elected or over which that elected officer's agency has direction and control. This subdivision does not apply to loans made by banks or other financial institutions or to any indebtedness created as part of a retail installment or credit card transaction, if the loan is made or the indebtedness created in the lender's regular course of business on terms available to members of the public without regard to the elected officer's official status. This subdivision does not apply to loans made to a public official whose duties are solely secretarial, clerical, or manual.(e) This section does not apply to the following:(1) Loans made to the campaign committee of an elected officer or candidate for elective office.(2) Loans made by a public official's spouse, child, parent, grandparent, grandchild, brother, sister, parent-in-law, brother-in-law, sister-in-law, nephew, niece, aunt, uncle, or first cousin, or the spouse of any such persons, provided that the person making the loan is not acting as an agent or intermediary for any person not otherwise exempted under this section.(3) Loans from a person which, in the aggregate, do not exceed two hundred fifty dollars ($250) at any given time.(4) Loans made, or offered in writing, before the operative date of this section.Amended by Stats 2021 ch 50 (AB 378),s 216, eff. 1/1/2022.Added by Stats. 1997, Ch. 638, Sec. 2. Effective January 1, 1998.