Phillip Chen
- Republican
- Assemblymember
- District 59
Author
Existing law authorizes a beneficiary to enforce the liability on a bond against both the principal and sureties by civil action. Under existing law, a judgment of liability on a bond, except as specified, is in favor of the beneficiary and against the principal and sureties, and obligates each of them jointly and severally. Existing law provides that except as specified, the aggregate liability of a surety to all persons for all breaches of the condition of a bond is limited to the amount of the bond, and that the liability of the principal is not limited to the amount of the bond. This bill would define "aggregate liability," for purposes of the provisions above, to include all liability for damages, costs, and attorney's fees, including any attorney's fees that may be assessed as costs, if recoverable. The bill would define "surety" for these purposes as a corporate insurer or interinsurance exchange to which the Insurance Commissioner has issued a certificate of authority to transact surety insurance in the state.
Vetoed by Governor.
Enrolled and presented to the Governor at 4 p.m.
Read third time. Passed. Ordered to the Assembly. (Ayes 34. Noes 3.).
In Assembly. Ordered to Engrossing and Enrolling.
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 7. Noes 1.) (June 25).
In committee: Hearing postponed by committee.
In Senate. Read first time. To Com. on RLS. for assignment.
Read third time. Passed. Ordered to the Senate. (Ayes 75. Noes 0. Page 4995.)
Read second time. Ordered to Consent Calendar.
Read second time and amended. Ordered returned to second reading.
From committee: Amend, and do pass as amended. To Consent Calendar. (Ayes 12. Noes 0.) (April 16).
In committee: Set, first hearing. Hearing canceled at the request of author.
From printer. May be heard in committee March 16.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB2677 | HTML |
| 02/14/24 - Introduced | |
| 04/17/24 - Amended Assembly | |
| 09/04/24 - Enrolled |
| Document | Format |
|---|---|
| 04/05/24- Assembly Judiciary | |
| 04/12/24- Assembly Judiciary | |
| 06/21/24- Senate Judiciary | |
| 06/27/24- Sen. Floor Analyses | |
| 10/10/24- ASSEMBLY FLOOR ANALYSIS |
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