(a) Before any lessor-retailer license shall be issued or renewed by the department to any applicant therefor, the applicant shall procure and file with the department a bond meeting the same requirements as specified for a vehicle dealer’s license in Sections 11710 and 11710.2.
(b) Any cause of action or claim specified in Section 11711 against a vehicle dealer’s bond shall also be a cause of action or claim against a lessor-retailer’s bond.