Commercial Fundraiser for Charitable Purposes Bond - California

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Bond Description

The California Office of the Attorney General requires commercial fundraisers for charitable purposes to post a $25,000 surety bond.  California charitable fundraiser bonds are put in place to ensure that principals (fundraisers) comply with Section 12599 of the Government Code of the State of California. This bond covers unethical acts or unlawful behavior that may occur by a registered business or organization.

Bond Amount
Cost
Term
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$25,000$375.001 Year TermSTART APPLICATION

Requiring Entity

State of California, Office of the Attorney General

Underwriting Criteria

Instant Issue with No Credit Check Required

Premium Rate(s)

1 Year - $475.00*

Who is Required to Secure this California Commercial Fundraiser for Charitable Purposes Bond

Any entity applying for registration of a Commercial Fundraiser for Charitable Purposes must submit a surety bond in the amount of $25,000 with their application (California Government Code Section 12599.5). A commercial fundraiser for charitable purposes shall, prior to soliciting any funds, assets, or property, including salvageable personal property, in California for charitable purposes register with the Attorney General's Registry of Charitable Trusts on a registration form provided by the Attorney General.

California Commercial Fundraiser for Charitable Purposes Bond Requirement Specifics

The bond is required for the benefit of any person damaged as a result of malfeasance or misfeasance in the conduct of a Commercial Fundraiser for Charitable Purposes. This is defined as any individual, corporation, unincorporated association, or other legal entity who for compensation does any of the following as defined is California Government Code Section 12599:

  • Solicits funds, assets, or property in this state for charitable purposes. 
  • As a result of a solicitation of funds, assets, or property in this state for charitable purposes, receives or controls the funds, assets, or property solicited for charitable purposes.
  • Employs, procures, or engages any compensated person to solicit, receive, or control funds, assets, or property for charitable purposes

Who is protected Under this California Commercial Fundraiser for Charitable Purposes Bond

The bond is payable to the State of California and is for the benefit of any person damaged as a result of malfeasance or misfeasance in the conduct of a Commercial Fundraiser for Charitable Purposes (California Government Code Section 12599.5).

Underwriting Process

Each applicant must first complete and submit the application for a Commercial Fundraiser for Charitable Purposes Bond, which contains all of the pertinent information regarding the charitable organization. Upon receipt of the application and payment the bond will be INSTANTLY ISSUED and mailed to the client.

What you Need to do Once you have your California Commercial Fundraiser for Charitable Purposes Bond

Once the Commercial Fundraiser for Charitable Purposes Bond has been approved and released to the applicant’s care, it must be filed with the Office of the Attorney General along with the application for a commercial fundraiser

Obligee Link

http://ag.ca.gov/charities/publications/guide_for_charities.pdf http://ag.ca.gov/charities/forms/commercial/ct-1cf_form_05.pdf

* Please be advised that the quote you obtain for this bond may include a fee charged and retained by The Bond Exchange.