California Commercial Fundraiser Bond for Charitable Purposes
California Commercial Fundraiser Bond for Charitable Purposes Information
Commercial Fundraisers for Charitable Purposes (defined by California Government Code section 12599.5) must file or have on file a surety bond in the amount of twenty-five thousand dollars with the Registry of Charitable Trusts of the Department of Justice. The surety bond requirement is pursuant to Section 12599.5 of the California Government Code and ensures compliance with this Code. The bond is conditioned upon the principal paying all monies due to any party when the principal or its representative or agent receives such funds. The principal is also obligated to pay all damages occasioned to anyone resulting from unlawful acts, or omissions while conducting business as a fundraiser.