California Business and Professions Code

§ 8697

BPC § 8697 Effective Jan 1, 2014Div. 3 · Ch. 14 · Art. 10

Statute text

Each company registered under the provisions of this chapter shall maintain a bond executed by an admitted surety insurer in the amount of twelve thousand five hundred dollars ($12,500). Another method of deposit, including a certificate of deposit, or other undertaking shall not satisfy this requirement.

Legislative history

Amended by Stats. 2013, Ch. 218, Sec. 5. (SB 662) Effective January 1, 2014.