What Is A California Public Official Bond?
A California public official bond is a requirement for all public officials. CA public official bonds guarantee the faithful performance of duties, as well as the honesty with which public officials are expected to act. These bonds are prescribed by law, and are meant to serve as a guarantee that all monies entrusted to public officials according to the laws of the state are handled properly. A California public official bond is issued for the protection of taxpayers; in general, the penalty, or the amount of the bond issued, must be adequate for the protection of these public interests.
CA public official bonds assure that fines, expenses, and other fees levied by state regulatory bodies for non-compliance with ordinances and regulations are recovered. The also ensure that if a public official is not in compliance with regulations, recovery of any financial losses incurred is assured.
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