You are here: California / Business and Professions Code - BPC / ARTICLE 6. Real Property Securities Dealers [10237. - 10238.8.] / Section 10237.8.

Section 10237.8. (Amended by Stats. 1989, Ch. 1275, Sec. 4.)
Cite as: Cal. Bus. & Prof. Code §10237.8.

Every real property securities dealer shall file and maintain with the commissioner a cash deposit, cash equivalent, or bond in the penal sum of ten thousand dollars ($10,000), executed by an admitted surety insurer approved by the commissioner, and running to the people of the State of California, for the use and benefit of interested persons. The bond shall be conditioned upon the dealer complying with all the provisions of this article, performing and complying with all obligations assumed by the dealer, and honest and faithful application of all funds received.

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