Each company registered under the provisions of this chapter shall maintain a bond executed by an admitted surety insurer in the amount of twelve thousand five hundred dollars ($12,500). Another method of deposit, including a certificate of deposit, or other undertaking shall not satisfy this requirement.
(Amended by Stats. 2013, Ch. 218, Sec. 5. (SB 662) Effective January 1, 2014.)
Last modified: October 25, 2018