Yolo County Marijuana Surety Bond
If you are engaged in Marijuana / Cannabis Cultivation, Distribution or Manufacturing operations in Yolo County, you will likely need to obtain a $10,000 surety bond specifically for Yolo County. Note that obtaining this Yolo County Bond does not eliminate your need to also obtain the Statewide $5,000 California Cannabis Surety Bond. Both bonds are needed if you want to do business in Yolo County. Most of our customers are somewhat confused about why they are required to purchase this particular surety bond. Please feel free to contact us by phone or email.
Specific Language used in the Yolo County Marijuana Surety Bond
Below, we have copied language directly from the bond form so that you can understand the nature of this bond:
THAT WE, as Principal, and SURETY BOND COMPANY,
are held and firmly bound unto, THE COUNTY OF YOLO, 625 COURT ST., WOODLAND, CA 95695 in the sum of TEN THOUSAND AND NO 00/100 ($10,000.00) for which payment well and truly be made, we bind ourselves, our personal representatives, successors and assigns, jointly and severally, firmly by these presents.
WHEREAS, the provisions of Chapter 20 to Title 5 of the Yolo County Code require that the Principal file or have on file with the County of Yolo a bond in the sum of $10,000 and this bond is executed and tendered in accordance therewith.
NOW THEREFORE, the conditions of the foregoing obligation are that if the Principal fully complies with the provisions of Chapter 20 to Title 5 of the Yolo County Code, as currently written or later amended, and pays all sums due the County of Yolo, and pays any assessed abatement costs and administrative penalties imposed against the Principal, or any of its subcontractors or agents, or the heirs, executors, administrators, successors, or assigns of any of them, then this obligation is to be void; otherwise it is to remain in full force and effect. Surety, for value received, stipulates and agrees that no change, extension of time, alteration, or addition to the terms of the license issued by the County of Yolo to the Principal to commercially cultivate medicinal marijuana, shall in any manner affect its obligations on this bond, and it waives notice of any such change, extension, alteration, or addition.
Further, in case of suit is brought upon this bond, Surety will pay costs and reasonable attorneys’ fees to be awarded and fixed by the Court, and to be taxed as costs and to be included in the judgment rendered. A demand to the Principal is not required if the Principal is no longer in business or is in a bankruptcy proceeding, whether voluntary or involuntary. As a bond given as a condition of a license, this obligation shall be continuous in form, remain in full force and effect, and run concurrently with the license period and any and all renewals, or until cancellation or withdrawal of the surety from the bond.
PROVIDED that surety may cancel this bond and be relieved of all further liability hereunder upon giving 30 days’ notice to the obligee named herein; however, cancellation shall not affect any rights or liabilities which have accrued under this bond prior to the date of such cancellation. No suit or action shall be brought hereunder by any party other than the obligee, and no suit or action shall be commenced under this bond more than one year from the expiration or cancellation thereof. Regardless of the number of years, this bond remains in force, or the number of renewal periods, the aggregate liability of the surety under this bond shall not exceed the penal sum.
Final Note regarding the Yolo County Marijuana Surety Bond
If you are in need of the Yolo County Marijuana / Cannabis Surety Bond, our company can help you through the process. The application only takes a few minutes to fill out. The entire process can be handled by fax/email. If your credit is strong, the cost of the bond is usually $500 annually. Please feel free to contact us by phone. Or, click here to get a free quote.