California Code of Regulations
Title 10 - Investment
Chapter 3 - Commissioner of Financial Protection and Innovation
Subchapter 10 - Check Sellers, Bill Payers and Proraters
Article 4 - Bonds and Insurance
Section 1790.2 - Fidelity Bond for Proraters

A licensee engaged in business as a general or special prorater shall obtain and file with the Commissioner and maintain in effect primary commercial blanket bond or a blanket position bond against the loss of money or property in the possession of the licensee. Each officer, employee, and agent having access to money in the possession of the licensee or drawing checks against the account of the licensee, shall be bonded in a principal amount of at least $10,000. The Commissioner may for good cause and based upon financial information require a bond in a different principal amount if the Commissioner finds such change to be in the public interest.

1. New section filed 12-31-58; effective thirtieth day thereafter (Register 59, No. 1).
2. Amendment filed 6-11-82; effective thirtieth day thereafter (Register 82, No. 24).

Note: Authority cited: Section 12300, Financial Code. Reference: Section 12223, Financial Code.