No license shall be issued under this chapter unless the applicant files with the commissioner a surety bond executed by a surety company authorized to do business in the state in the sum of twenty thousand dollars ($20,000) conditioned for the faithful and honest conduct of business by the applicant. The bond, as to its form, execution, and sufficiency of the surety shall be approved by the commissioner.
Cal. Ins. Code § 15033
Bonds
Known as the Public Insurance Adjusters Act
The act spans §§ 15000 to 15062 (71 sections).
Amended by Stats. 2005, Ch. 448, Sec. 18
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.