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2011 California Code
Financial Code
DIVISION 3. CHECK SELLERS, BILL PAYERS, AND PRORATERS [12000 - 12404]
CHAPTER 3. Licensing
Section 12213


CA Fin Code § 12213 (through 2012 Leg Sess) What's This?

When 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.

(Enacted by Stats. 1951, Ch. 364.)

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