California Insurance Code

§ 847

INS § 847 Effective Jan 1, 2026Div. 1 · Part 2 · Ch. 1 · Art. 8

Statute text

At the time of filing an application for a broker’s certificate, the applicant shall file with the commissioner a bond for five thousand dollars ($5,000), payable to the people of the State of California, for the use and benefit of any interested person, to be approved by the commissioner. The bond shall be conditioned upon the following conduct by the broker, the broker’s stock agents, and employees:

(a)Strict compliance with the provisions of this article.

(b)Honest and faithful application of all funds received.

…

Legislative history

Amended by Stats. 2025, Ch. 558, Sec. 7. (AB 487) Effective January 1, 2026.