California Financial Code

§ 51005

FIN § 51005 Effective Jan 1, 2010Div. 20.5

Statute text

Any person claiming to have sustained damage by reason of the failure of a person engaging in business as an exchange facilitator to comply with this division may file a claim on the bonds, deposits, or letters of credit described in Section 51003 to recover the damages subject to the terms and conditions of the bonds, deposits, or letters of credit. The amounts of the bonds, deposits, or letters of credit shall be reduced to the extent of any payment made.

Legislative history

Amended by Stats. 2009, Ch. 568, Sec. 5. (SB 204) Effective January 1, 2010.