Surety Bond Discount Buying Organization {SFSB-408} | Pdf Fpdf Doc Docx | California

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Surety Bond Discount Buying Organization {SFSB-408} | Pdf Fpdf Doc Docx | California

Last updated: 2/27/2017

Surety Bond Discount Buying Organization {SFSB-408}

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SFSB-408, SURETY BOND DISCOUNT BUYING ORGANIZATION (Civil Code Section 1812.100 et seq.), the provisions of Section 1812.100 et seq., of the Civil Code, require that the Principal file or have on file with the Secretary of State a copy of a bond in the sum of, two million, five hundred thousand dollars ($2,500,000) or two hundred fifty thousand dollars ($250,000) and this bond is executed and tendered in accordance therewith. The conditions of the foregoing obligations are that if the Principal complies with the provisions of Title 2.6 (commencing with Section 1812.100 et seq.), Part 4 of Division 3 of the Civil Code of the State of California, and pays all sums due any individual or group of individuals when such Principal or its representative or agent has received such sums, and pays all damages occasioned to any person by unlawful acts or omissions of the Principal mentioned above, or of its agents or employees while acting within the scope of their employment, then this obligation is to be void; otherwise it is to remain in full force and effect.

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