Bond Amount
$25,000
Requiring Entity
State of California Office of the Attorney General
Underwriting Criteria
Instant Issue No Credit Check Required
Premium Rate(s)
1 Year - $575.00*
Who is Required to Secure this Bond
The State of California Office of the Attorney General mandates that all Charitable corporations, unincorporated associations, trustees, or other persons holding assets in trust for charitable purposes must register with the Office of the Attorney General and file a $25,000 surety bond within 30 days of initially receiving assets (funds, property, etc.)
Bond Requirement Specifics
The Charitable Trust Registry bond requirement is set forth in Government Code Section 12599.5 and is made payable to the People of the State of California. It is structured to benefit any person or persons damaged by acts made by the Charitable Trust characterized by fraud, dishonesty, misstatement, misrepresentation, deceit and or any unlawful acts or omissions by the Charitable Trust. The Surety Company who issued the Charitable Trust bond on behalf of the Charitable Trust must validate each claim and in the event the Charitable Trust is found negligent, the Surety Company must pay the damages sought in the bond claim.
Who is protected Under this Bond
Any person or persons to whom the Charitable Trust rendered services. The Charitable Trust shall account to any person affected, in respect to business done, or transactions occurring under or by virtue of authority granted by any and all Charitable Trust.
Underwriting Process
The California Charitable Trust Registry Bond can be INSTANTLY ISSUED through our web-site without the need of a personal credit check of the applicant.
What you Need to do Once you have your Bond
As the original Charitable Trust Registry bond must be filed with the State of California, Office of the Attorney General the original bond will be mailed to the Charitable Trust Registry within 24 hours of submitting their application online so long as the first year term premium has been paid. The Charitable Trust Registry will need to forward the original bond to the State of California, Office of the Attorney General for filing. The bond will be placed in regular mail unless the applicant opts to pay the fee associated with overnight delivery during the application process.
* Please be advised that the quote you obtain for this bond may include a fee charged and retained by The Bond Exchange.