Cal. FIN § 12213
This is the official text of Cal. FIN § 12213, part of California’s Financial Code — regulates banks, credit unions, lenders, and other financial institutions.
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Official statutory text
When an action is commenced on the bond of a licensee the commissioner may require the filing of a new bond, and immediately upon the recovery of any action on the bond the licensee shall file a new bond. Failure to file a new bond within 10 days of the recovery on a bond, or within 10 days after notification that a bond is required, constitutes sufficient grounds for the suspension or revocation of a license.
Status: in_force · Read it on the official government site
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