Fin. Code, § 17310 · Article 2. Purpose: Scope of Guarantee
Fin. Code, § 17310
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) It shall be the purpose of Fidelity Corporation to indemnify a member within the State of California against loss, subject to the limitations set forth in this chapter.
(b) Fidelity Corporation shall not be liable for any consequential damages sustained by a member, or by any other person, nor for any punitive damages whatsoever.
(c) The indemnification shall be provided by any of the following:
(1) A fund established by Fidelity Corporation pursuant to Section 17320.
(2) A fidelity bond or insurance policy to be approved by the commissioner.
(3) A combination of paragraphs (1) and (2) subject, however, to the maximum coverage specified in subdivision (b) of Section 17314.
(d) Fidelity Corporation shall provide a copy to all of its members and the commissioner of the fidelity bond or insurance policy as it is acquired or renewed, and Fidelity Corporation shall promptly provide a copy to any member or successor in interest, upon request.
Notes and commentary — not statutory text
History
Amended by Stats. 2006, Ch. 376, Sec. 1. Effective January 1, 2007.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=17310.
- Text hash
- sha256 010c5fb21c51c51215cd55b8e8a82f2f025914b9ea213be16be4b9fc6ec89330
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
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