California Business and Professions Code

§ 7071.11

BPC § 7071.11 Effective Jan 1, 2011Div. 3 · Ch. 9 · Art. 5

Statute text

(a)The aggregate liability of a surety on a claim for wages and fringe benefits brought against a bond required by this article, other than a bond required by Section 7071.8, shall not exceed the sum of four thousand dollars ($4,000). If a bond required by this article is insufficient to pay all claims in full, the sum of the bond shall be distributed to all claimants in proportion to the amount of their respective claims.

(b)No license may be renewed, reissued, or reinstated while a judgment or admitted claim in excess of the amount of the bond remains unsatisfied.

(c)Except for claims covered by subdivision (d), any action against a bond required under this article, excluding the judgment bond specified under Section 7071.17, shall be brought in accordance with the following:

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Legislative history

Amended by Stats. 2010, Ch. 698, Sec. 17. (SB 392) Effective January 1, 2011.