California · Financial Code
FIN §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 those agents in an amount equal to at lea
What this law says, in plain English
Associations must bond collection agents not covered under Section 6200 in specified amounts.
Read the full statutory text
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 those agents in an amount equal to at least twice the average monthly collection of the agent. The agents shall be required to make settlement with the association at least monthly.
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