CaliforniaBonds: public entities as beneficiaries.
What it does
Existing law, the Bond and Undertaking Law, prescribes procedures for a bond or undertaking that is executed, filed, posted, furnished, or otherwise given as a security pursuant to any statute, except as specified. Unless a statute providing for a bond indicates that the bond becomes effective at a different time, a bond is effective at the time it is given or, if the statute requires that the bond be approved, at the time it is approved.
More detail
This bill would specify that if a statute provides for a bond to be given to or in favor of a beneficiary that is a public entity, as defined, in connection with the purchase, construction, expansion, improvement, or rehabilitation of any real or other tangible personal property, that bond is not effective unless the beneficiary agrees to (1) make all payments to the principal, or to the surety if the surety agrees to complete the work upon the principal's default, and (2) perform all necessary obligations owed to the principal under the contract for the work.
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Where it stands
- Introduced
- Passed Senate
- Passed Assembly
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Feb 2Returned to Secretary of Senate pursuant to Joint Rule 56.Latest
- 2025
- Apr 29April 29 set for first hearing canceled at the request of author.
- Apr 11Set for hearing April 29.
- Apr 2Re-referred to Com. on JUD.Minor
- Mar 27Re-referred to Com. on RLS.Minor
- Mar 27Withdrawn from committee.Major
- Mar 27April 9 hearing postponed by committee.
- Mar 26Set for hearing April 9.
- Mar 26From committee with author's amendments. Read second time and amended. Re-referred to Com. on INS.Major
- Feb 26Referred to Com. on INS.Minor
- Feb 19From printer. May be acted upon on or after March 21.
- Feb 18Introduced. Read first time. To Com. on RLS. for assignment. To print.Introduced