The California Dance Studio Surety Bond is required by the California Secretary of State.
The California Dance Studio Surety Bond is required for all businesses that are actively and currently providing dance lessons and training in their facilities.
This surety bond protects dance studio clients from any malpractice and deceit by the dance studio. It guarantees that the dance studio will follow all laws, rules, and regulations set forth by the state. This bond protects clients from any poor financial decisions or violations of the law by the dance studio.
The California Dance Studio Surety Bond is continuous in nature; therefore, it remains in full force and effect for the term of the initial bond. The bond may be canceled by the Surety company by providing notice to the obligee thirty days before the cancellation date.
Bond Requirements and Cost
The California Dance Studio Surety Bond is required by the Secretary of State to be in the amount of either $25,000 or 25% of the dance studio’s gross income from its business during the studio’s last fiscal year, whichever is greater. A $30.00 filing fee is also required by the Secretary of State.
This bond is executed to comply with the provisions of Title 2.4 (commencing with Section 1812.50), Part 4 of Division 3 of the Civil Code and of Chapter 2 (commencing with Section 995.010), Title 14, Part 2 of the Code of Civil Procedure.
Studios that are exempt from this surety bond requirement include:
- Those that receive less than $50 in advance payments from or on behalf of each student in which the advance payments are not received by the studio more frequently than once every 30 days.
- Those that only offer instruction in ballet, modern, jazz, tap dance, or any combination thereof, to persons under 21 years of age if the contract between the studio and the student follow certain parameters outlined in California Civil Code Title 2.4, Section 1812.67.
- Those that qualify for a tax exemption under Section 501(c)(3) of the Internal Revenue Code and receive a direct grand of funds from the California Arts Council.
View a current copy of the Dance Studio Surety Bond HERE
How to Get Your California Dance Studio Surety Bond
- Complete an online application. It’s free and no-obligation.
- One of our surety experts will contact you with a firm quote and an agreement to sign.
- Provide payment and your signed agreement, and then you will receive your Surety Bond!
If you have any questions, please call us at 877-654-2327.
Surety1 was founded in 2003 and helps thousands of clients find the best prices on their surety bonds. We take pride in our work so that we can give you great service. Learn more about Surety1.