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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Description

State of California Secretary of State SURETY BOND DISCOUNT BUYING ORGANIZATION (Civil Code Section 1812.100 et seq.) Check one box: Parent ($2,500,000) Affiliate ($250,000) (Office Use Only) Bond Number ________________________________________ The premium of this bond is $ _________________________ for the term of ________________________________________. KNOW ALL PERSONS BY THESE PRESENTS: That ____________________________________________________________________________________________ (Name of Principal) doing business as _______________________________________________________________________________________ (Name of Business) a discount buying organization, whose address is ______________________________________________________________________________________________________ Street Address City State Zip as PRINCIPAL, and __________________________________________________________________________, a corporation (Name of Surety) organized under the laws of __________________________________________________, and authorized to transact a general surety business in the State of California, whose address for service is ______________________________________________ _______________________, as SURETY, are held and firmly bound to the People of the State of California in the penal sum of, two million, five hundred thousand dollars ($2,500,000) or two hundred fifty thousand dollars ($250,000) for which payment we bind ourselves, our heirs, executors, administrators, successors and assigns jointly and severally, firmly by these presents. WHEREAS, 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 and this bond is executed and tendered in accordance therewith. two hundred fifty thousand dollars ($250,000) NOW THEREFORE, 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. SFSB-408 Rev 04/2015 - OVER - Filing Fee $30.00 American LegalNet, Inc. www.FormsWorkFlow.com PROVIDED HOWEVER, this bond is issued subject to the following express conditions: 1. This bond shall be deemed continuous in form and shall remain in full force and effect for the term of the initial bond and all subsequent riders, for all liabilities, acts, omissions, or causes arising after this bond becomes effective and before the cancellation or withdrawal of the Surety from the bond. This bond is executed by the Surety to comply with the provisions of Title 2.6 (commencing with Section 1812.100 et seq.) Part 4 of Division 3 of the Civil Code and of Chapter 2 (commencing with Section 995.010), Title 14, Part 2 of the Code of Civil Procedure and said bond shall be subject to all of the terms and provisions thereof. The aggregate liability of the Surety hereunder on all claims whatsoever shall not exceed the penal sum of this bond in any event. This bond may be canceled by the Surety in accordance with the provisions of Sections 996.310 et seq. of the Code of Civil Procedure. The Surety, its successors and assigns, are jointly and severally liable on the obligations of Title 2.6 (commencing with Section 1812.100 et seq.) Part 4 of Division 3 of the Civil Code. The Principal and Surety may be served with notices, papers and other documents under Chapter 2 (commencing with Section 995.010) Title 14, Part 2 of the Code of Civil Procedure and Title 2.6 (commencing with Section 1812.100 et seq.) Part 4 of Division 3 of the Civil Code, at the addresses given above. 2. 3. 4. 5. 6. ______________________________________________________________________________________________________ (Name of Surety) I certify under penalty of perjury, under the laws of the State of California, that I have executed the foregoing bond on behalf of the Surety under an unrevoked power of attorney. Executed in _____________________________________________________ on ____________________________________ (City, State) (Date) ______________________________________________ Signature of Attorney-in-Fact for Surety ______________________________________________ Printed or Typed Name of Attorney-in-Fact for Surety INSTRUCTIONS: 1. 2. The term for all bonds submitted shall not be less than twenty-four (24) months. Send the executed document and filing fee to: California Secretary of State P.O. Box 942870 Sacramento, CA 94277-2870 3. Include the filing fee of $30.00. American LegalNet, Inc. www.FormsWorkFlow.com

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