California Financial Code
§ 12213
FIN § 12213Div. 3 · Ch. 3
Statute text
View on leginfo.ca.govWhen an action is commenced on the bond of a licensee the commissioner may require the filing of a new bond, and immediately upon the recovery of any action on the bond the licensee shall file a new bond. Failure to file a new bond within 10 days of the recovery on a bond, or within 10 days after notification that a bond is required, constitutes sufficient grounds for the suspension or revocation of a license.
Legislative history
Enacted by Stats. 1951, Ch. 364.