California Codes, Civil Code - CIV, Division 3 — Obligations, Part 4 — Obligations Arising from Particular Transactions, Title 2.6 — Contracts for Discount Buying Services, Section 1812.103
Every discount buying organization shall maintain a bond issued by a surety company admitted to do business in this state. The principal sum of the bond shall be twenty thousand dollars ($20,000). A copy of such bond shall be filed with the Secretary of State.
Notes
Requires every discount buying organization to maintain a $20,000 bond issued by a surety company admitted to do business in California. A copy of the bond must be filed with the Secretary of State, making both maintenance of the stated bond amount and filing the bond copy mandatory.
Use as reference
Lexinter.net | California Code, Civil Code - CIV § 1812.103 | https://laws.lexinter.net/codes/california/civil-code/division-3/part-4/title-2-6/section-1812-103