California Codes, Business and Professions Code - BPC, Division 4 — Real Estate, Part 1 — Licensing of Persons, Chapter 3 — Real Estate Regulations, Article 2.3 — Prepaid Rental Listing Service, Section 10167.7
Except as provided in Section 10167.8, each licensee shall provide to the department, and at all times maintain in force, a bond in the amount of ten thousand dollars ($10,000) for each location. The bond may be in the form of a corporate surety bond, or a cash deposit. A cash deposit may be deposited by the licensee in an interest-bearing account assigned to the commissioner, with interest earned thereon payable to the licensee. The bond or cash deposit may be utilized by the commissioner for the benefit of any unsatisfied judgment creditor in an action pursuant to subdivision (e) of Section 10167.10.
Notes
Requires each prepaid rental listing service licensee, except as provided in the cited exception, to maintain a $10,000 bond for every location, using either a corporate surety bond or cash deposit. A cash deposit may earn interest payable to the licensee, and the bond or deposit may benefit an unsatisfied judgment creditor in the specified action.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 10167.7 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-4/part-1/chapter-3/article-2-3/section-10167-7