No indemnity bond coverage is required of any agent that is a financial institution insured by the Federal Deposit Insurance Corporation.
Cal. Fin. Code § 6202
Indemnity Bonds
Known as the Savings Association Law
The act spans §§ 5000 to 10009 (387 sections).
Amended by Stats. 1990, Ch. 1118, Sec. 30.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.