There is a newer version of the California Code
2007 California Financial Code Article 4. Fidelity Bonds
CA Codes (fin:33600-33604)
FINANCIAL CODESECTION 33600-33604
33600. Each fidelity bond required by the commissioner pursuant to this article shall be issued by one or more corporations admitted to engage in the surety business in this state and is satisfactory to the commissioner. 33601. Whenever the commissioner approves an application for a license, the commissioner may require, as a condition of such approval, if the commissioner finds that such condition is necessary for the protection of the interests of purchasers and holders of payment instruments issued by the applicant, that the applicant obtain and thereafter maintain a fidelity bond covering such persons, having such provisions, and providing coverage in such amounts, as the commissioner may specify. 33602. Whenever the commissioner finds that such order is necessary for the protection of the interests of purchasers and holders of payment instruments issued by a licensee which is not then required to maintain a fidelity bond, the commissioner may order such licensee to obtain and thereafter maintain a fidelity bond covering such persons, having such provisions, and providing coverage in such amounts, as the commissioner may specify. 33603. Whenever the commissioner finds that it is appropriate or necessary for the protection of the interests of purchasers and holders of payment instruments issued by a licensee which is then required to maintain a fidelity bond that such licensee obtain and thereafter maintain a fidelity bond which differs from the former fidelity bond with respect to persons covered, amounts of coverage, or other provisions, the commissioner may by order relieve the licensee of the requirement that it maintain the former fidelity bond and require that the licensee obtain and thereafter maintain the latter fidelity bond. 33604. Whenever the commissioner finds that it is no longer necessary for the protection of the interests of purchasers and holders of payment instruments issued by a licensee which is then required to maintain a fidelity bond that such licensee continue to maintain any fidelity bond, the commissioner may by order relieve the licensee of the requirement that it maintain any fidelity bond.
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