California Code of Civil Procedure 995.510 – (a) A personal surety on a bond is sufficient if all of the …
(a) A personal surety on a bond is sufficient if all of the following conditions are satisfied:
(1) The surety is a person other than the principal. No officer of the court or member of the State Bar shall act as a surety.
Terms Used In California Code of Civil Procedure 995.510
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Person: includes a corporation as well as a natural person. See California Code of Civil Procedure 17
- Property: includes both personal and real property. See California Code of Civil Procedure 17
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- State: includes the District of Columbia and the territories when applied to the different parts of the United States, and the words "United States" may include the district and territories. See California Code of Civil Procedure 17
(2) The surety is a resident, and either an owner of real property or householder, within the state.
(3) The surety is worth the amount of the bond in real or personal property, or both, situated in this state, over and above all debts and liabilities, exclusive of property exempt from enforcement of a money judgment.
(b) If the amount of a bond exceeds ten thousand dollars ($10,000) and is executed by more than two personal sureties, the worth of a personal surety may be less than the amount of the bond, so long as the aggregate worth of all sureties executing the bond is twice the amount of the bond.
(Added by Stats. 1982, Ch. 998, Sec. 1.)