ARTICLE 5. Indemnity Bonds

Article 5 added by Stats. 1983, Ch. 1091, Sec. 2.

§§ 6200–6204 · 5 sections

• § 6200 Except as provided in subdivision (b) of Section 6203, all directors, officers, and employees of an association shall, before entering upon the performance of…
• § 6201 Associations that employ collection agents, who for any reason are not covered by a bond required under Section 6200, shall provide for the bonding of each of…
• § 6202 No indemnity bond coverage is required of any agent that is a financial institution insured by the Federal Deposit Insurance Corporation.
• § 6203 (a) The amounts and form of indemnity bonds and sufficiency of the surety shall be approved by the board of directors and by the commissioner. (b) In lieu of…
• § 6204 Indemnity bonds shall provide that their cancellation either by the surety or by the insured shall not become effective unless and until 10 days’ notice in…