California Code of Regulations › Title 25 - Housing and Community Development › Division 1 - Housing and Community Development › Chapter 5 - Registration and Titling of Manufactured Homes, Mobilehomes, Multifamily Manufactured Home, Commercial Modular, Truck Campers, and Floating Homes › Article 4 - Registration Requirements › Section 5547 - Requirements for Bonds and Other Undertakings

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) When at any time in Chapter 5, a
				  requirement for an application for registration of a unit includes, as an
				  alternative, the provision of a bond or undertaking as described in this
				  section, the bond or undertaking shall be one of the following:
(1) A surety bond issued by a surety company
				  authorized to transact general surety business in the State of California,
				  executed by the principal and surety and acknowledged by a Notary Public using
				  the certificate of acknowledgment specified in Section 1189(a) of the Civil
				  Code. The bond shall be valid for a three-year period from the date the
				  completed application for registration is received by the department.
(2) A certificate of deposit or investment
				  certificate issued by a financial institution authorized to do business in the
				  State of California and insured by the Federal Deposit Insurance Corporation,
				  which indicates the name of the depositor and is made payable to the
				  department. The certificate of deposit or investment certificate shall be valid
				  for a three-year period from the date the completed application for
				  registration is received by the department.
(3) Money deposited in a financial
				  institution evidenced by a share or savings account passbook which shows the
				  name and address of the financial institution and contains the signature of an
				  officer or authorized agent of the financial institution. The account passbook
				  shall be assigned to the department by the person evidence by the passbook to
				  be the depositor of the account. The assignment of the account passbook shall
				  be valid for a three-year period from the date the completed application was
				  received by the department.
(4) A
				  cashier's check made payable to the department. A warrant in the amount of the
				  cashier's check will be sent to the applicant by the department at the end of
				  the three-year period, beginning with the date the completed application for
				  registration is received by the department.
(5) Any governmental agency identified in
				  Section 995.220 of the Code of Civil Procedure may, in lieu of a bond or
				  undertaking described herein, submit a letter of indemnification, indemnifying
				  the department from all claims occurring because of the lack or defect in the
				  application for registration. The letter of indemnification shall acknowledge
				  the acceptance by the issuing governmental agency of all liability due to any
				  claims, suits, actions, losses or damage on account of any defect in or
				  undisclosed claim, lien, or encumbrance of whatever nature, pertaining to the
				  application for registration or the registration or titling of the unit
				  pursuant thereto. The letter shall include the unit identifying information and
				  an acknowledgment that the indemnification shall remain in effect for a period
				  of 3 years from the date the completed application for registration is received
				  by the department.