Contractor’s License Bond amount to be raised to $15,000
Effective January 1, 2015, Business and Professions Code Section 7071.6 will require all contractors have either a contractor’s license bond or cash deposit filed with the California State Licensing Board in the sum of $15,000.00. The increase will only apply to homeowner, labor and fraud complaints. The $7,500.00 remains in effect for all other claims.
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