§ 17310
156 words·~1 min read·
/ca/financial-code/17310A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)It shall be the purpose of Fidelity Corporation to indemnify a member within the State of California against loss, subject to the limitations set forth in this chapter.
(b)Fidelity Corporation shall not be liable for any consequential damages sustained by a member, or by any other person, nor for any punitive damages whatsoever.
(c)The indemnification shall be provided by any of the following:
(1)A fund established by Fidelity Corporation pursuant to Section 17320.
(2)A fidelity bond or insurance policy to be approved by the commissioner.
(3)A combination of paragraphs
(1)and
(2)subject, however, to the maximum coverage specified in subdivision
(b)of Section 17314.
(d)Fidelity Corporation shall provide a copy to all of its members and the commissioner of the fidelity bond or insurance policy as it is acquired or renewed, and Fidelity Corporation shall promptly provide a copy to any member or successor in interest, upon request.