Cal. Code Regs. tit. 10 § 1437
Every licensee shall maintain a surety bond in accordance with section 22112 of the Financial Code as follows:
| Aggregate Loans | Bond Amount |
| 0 - $1,000,000 | $25,000 |
| $1,000,001 - $50,000,000 | $50,000 |
| $50,000,001 - $500,000,000 | $100,000 |
| Over $500,000,001 | $200,000 |
Bond No. [Bond Number]
Bond Amount: [Bond Amount]
Effective Date: [Bond Effective Date]
KNOW ALL PERSONS BY THESE PRESENTS:
That we, [Licensee/Principal Name] including any and all trade names, NMLS # [Licensee/Principal NMLS ID], as Principal, whose address for service is [Principal Address for Service], and [Surety Name], NAIC # [Surety NAIC], whose address for service is [Surety Address for Service], duly licensed to do surety business in the State of California as Surety (Principal and Surety together are hereinafter collectively referred to as "Obligors"), are held and firmly bound unto the Commissioner of Financial Protection and Innovation of the State of California ("Commissioner") for use by the Commissioner, for its own benefit, and for the benefit of any person or persons who may have a cause of action against us as the Obligors of this instrument under the provisions of the California Financing Law, California Financial Code section 22000 et seq., the provisions of Chapter 2 (commencing with section 995.010) of Title 14, Part 2, California Code of Civil Procedure, and Financial Code section 22112, hereafter described in the penal sum of [Bond Amount], lawful money of the United States of America, to be paid to the Commissioner for which payment well and truly to be made, we bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents:
Whereas, the above bound Principal has applied to the Commissioner for a license to engage in the business of finance lending, brokering, or administering a PACE program, as provided by law under the California Financing Law.
THE CONDITION OF THIS OBLIGATION IS SUCH, that if the Principal and any employee or agent representing the Principal, working at any location, faithfully conform to and abide by each and every provision of the California Financing Law, California Financial Code section 22000 et seq., and all amendments thereto, and of all rules and regulations and orders lawfully made by the Commissioner, and pay to the Commissioner, and to any such person or persons having a right of action against the Obligors any and all monies that may become due or owing to the Commissioner, and to such person or persons from said Obligors under and by virtue of the provisions of the California Financing Law, then this obligation to be void; otherwise to remain in full force and effect until the Surety is released from liability by the Commissioner, subject, however, to the following conditions:
In Witness Whereof, The said Principal has hereto set his hand and seal and the said Surety has caused this obligation to be duly executed by its duly authorized agent to be hereunto affixed on this [Day of Signatory Date] day of [Month of Signatory Date], [Signatory Year].
By: [Principal Signee]
Principal
I certify under penalty of perjury under the laws of the State of California that I have executed the foregoing bond under an unrevoked power of attorney.
By: [Surety Signee]
Surety
Cal. Code Regs. Tit. 10, § 1437
2. Editorial correction of HISTORY 1 (Register 2010, No. 40).
3. New section refiled 9-28-2010 as an emergency, including repealer of subsection (e); operative 9-28-2010 (Register 2010, No. 40). A Certificate of Compliance must be transmitted to OAL by 12-27-2010 or emergency language will be repealed by operation of law on the following day.
4. New section refiled 12-23-2010 as an emergency; operative 12-23-2010 (Register 2010, No. 52). A Certificate of Compliance must be transmitted to OAL by 3-23-2011 or emergency language will be repealed by operation of law on the following day.
5. Certificate of Compliance as to 12-23-2010 order, including amendment of subsection (a), transmitted to OAL 3-14-2011 and filed 4-25-2011; amendments operative 5-25-2011 (Register 2011, No. 17).
6. Amendment filed 8-5-2021; operative 10-1-2021 (Register 2021, No. 32). Transmission deadline specified in Government Code section 11346.4(b) extended 60 calendar days pursuant to Executive Order N-40-20 and an additional 60 calendar days pursuant to Executive Order N-71-20. Filing deadline specified in Government Code section 11349.3(a) extended 60 calendar days pursuant to Executive Order N-40-20 and an additional 60 calendar days pursuant to Executive Order N-71-20.
Note: Authority cited: Section 22150, Financial Code. Reference: Section 22112, Financial Code.
2. Editorial correction of History 1 (Register 2010, No. 40).
3. New section refiled 9-28-2010 as an emergency, including repealer of subsection (e); operative 9-28-2010 (Register 2010, No. 40). A Certificate of Compliance must be transmitted to OAL by 12-27-2010 or emergency language will be repealed by operation of law on the following day.
4. New section refiled 12-23-2010 as an emergency; operative 12-23-2010 (Register 2010, No. 52). A Certificate of Compliance must be transmitted to OAL by 3-23-2011 or emergency language will be repealed by operation of law on the following day.
5. Certificate of Compliance as to 12-23-2010 order, including amendment of subsection (a), transmitted to OAL 3-14-2011 and filed 4-25-2011; amendments operative 5-25-2011 (Register 2011, No. 17).
6. Amendment filed 8-5-2021; operative 10/1/2021 (Register 2021, No. 32). Transmission deadline specified in Government Code section 11346.4(b) extended 60 calendar days pursuant to Executive Order N-40-20 and an additional 60 calendar days pursuant to Executive Order N-71-20. Filing deadline specified in Government Code section 11349.3(a) extended 60 calendar days pursuant to Executive Order N-40-20 and an additional 60 calendar days pursuant to Executive Order N-71-20.