Labor Code section 403

If cash is received as a bond it shall be deposited in a savings account in a bank authorized to do business in this State, and may be withdrawn only upon the joint signatures of the employer and the employee or applicant.
Cash put up as a bond shall be accompanied by an agreement in writing made by the employer and employee or applicant, setting forth the conditions under which the bond is given.

Source: Section 403, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=LAB§ionNum=403.­ (updated Jan. 1, 1937; accessed Jun. 25, 2025).

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Verified:
Jun. 25, 2025

§ 403's source at ca​.gov