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.
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: