Financial Code - FIN - FIN § 17310

Summary

(a) It shall be the purpose of Fidelity Corporation to indemnify a member within the State of California against loss, subject to the limitations set forth in this chapter. (b) Fidelity Corporation shall not be liable for any consequential damages sustained by a member, or by any

Text

(a)
It shall be the purpose of Fidelity Corporation to indemnify a member within the State of California against loss, subject to the limitations set forth in this chapter.
(b)
Fidelity Corporation shall not be liable for any consequential damages sustained by a member, or by any other person, nor for any punitive damages whatsoever.
(c)
The indemnification shall be provided by any of the following:
(1)
A fund established by Fidelity Corporation pursuant to Section 17320.
(2)
A fidelity bond or insurance policy to be approved by the commissioner.
(3)
A combination of paragraphs (1) and (2) subject, however, to the maximum coverage specified in subdivision (b) of Section 17314.
(d)
Fidelity Corporation shall provide a copy to all of its members and the commissioner of the fidelity bond or insurance policy as it is acquired or renewed, and Fidelity Corporation shall promptly provide a copy to any member or successor in interest, upon request.

Retrieval chunks

• #1 | Financial Code - FIN - FIN § 17310

  (a) It shall be the purpose of Fidelity Corporation to indemnify a member within the State of California against loss, subject to the limitations set forth in this chapter. (b) Fidelity Corporation shall not be liable for any consequential damages sustained by a member, or by any other person, nor for any punitive …