California Nursing Facility Resident Trust Fund Bonds - Filed with State
What is a California Nursing Facility Resident Trust Fund Bond - State Bond?
The California Department of Health requires a Nursing Resident Trust Fund Bond according to California Health and Safety Code, Section 1318, Chapter 2, Division 2. Licensed health facilities that handle money in excess of $25 per patient (or over $500 for all patients) in any month, be bonded for not less that $1,000. The bond protects patients as a guarantee of faithful and honest handling of the patients' money and provides financial recourse if the principal fails to meet such obligation.