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.
Cal. Civ. Code § 1812.103
CONTRACTS FOR DISCOUNT BUYING SERVICES
Amended by Stats. 1996, Ch. 633, Sec. 8
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.