§ 15033
68 words·~1 min read·
/ca/insurance-code/15033A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
No license shall be issued under this chapter unless the applicant files with the commissioner a surety bond executed by a surety company authorized to do business in the state in the sum of twenty thousand dollars ($20,000) conditioned for the faithful and honest conduct of business by the applicant. The bond, as to its form, execution, and sufficiency of the surety shall be approved by the commissioner.