Statute · California Financial Code
Cal. Fin. Code § 17310 — Purpose: Scope of Guarantee
Cal. Fin. Code § 17310
- Type
- Statute
- Source
- California Financial Code
- Jurisdiction
- California
- Date
- 2007-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(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.
Citator
Cal. Fin. Code § 17310 — Purpose: Scope of Guarantee is in force in the current edition of the Code, and nothing recorded condemns it.
(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.