California § 51640 - There is hereby continued in existence a bond insurance reserve account in the in
Full text of California Public Contract Code - PCC § 51640 — There is hereby continued in existence a bond insurance reserve account in the in, with citation guidance and answers to common questions.
§ 51640. There is hereby continued in existence a bond insurance reserve account in the in
There is hereby continued in existence a bond insurance reserve account in the insurance fund to secure commitments under contracts to insure bonds. The agency shall take all reasonable steps to ensure that the bond reserve account is continuously maintained at not less than the bond reserve requirement. The agency shall not cause sums to be withdrawn from the bond insurance reserve account in amounts which would reduce the moneys therein to less than the bond reserve requirement, except as necessary to satisfy liabilities arising under contracts of bond insurance. In the event that the bond insurance reserve account is reduced to less than the bond reserve requirement, the agency shall cease making contracts of bond insurance until the account has been restored to satisfy that requirement.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 51640
What does Public Contract Code - PCC § 51640 cover?
Section 51640 ("There is hereby continued in existence a bond insurance reserve account in the in") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 51640?
A common citation format is "Public Contract Code - PCC § 51640" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 51640 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.