1662-1665
INSURANCE CODE
SECTION 1662-1665
1662. A fire and casualty broker-agent shall, prior to acting in the capacity of an insurance broker, file and continuously maintain in force the bond required by this article. Any authority to act as broker shall automatically terminate immediately upon there being no bond in force. 1663. Such bond shall be duly executed by an admitted surety insurer, shall be continuous in form, and shall be in favor of the people of the State of California. 1665. The bond of a fire and casualty broker-agent shall be in the amount of ten thousand dollars ($10,000). The bond shall be contingent on the accounting by the fire and casualty broker-agent to any person requesting insurance, for moneys or premiums collected by the fire and casualty broker-agent when acting as a broker for insurance other than life.