CONTRACTORS STATE LICENSE BOARD
STATE OF CALIFORNIA
9821 Business Park Drive, Sacramento, CA 95827-1703
Mailing Address: P.O. Box 26000, Sacramento, California 95826-0026
IMPORTANT: A CASH DEPOSIT MUST REMAIN ON FILE WITH THE CONTRACTORS STATE LICENSE BOARD FOR
A HOLDING PERIOD OF THREE YEARS AFTER THE EXPIRATION OF THE LICENSE PERIOD FOR WHICH THE
CASH DEPOSIT WAS GIVEN. THIS WILL RESULT IN A HOLDING PERIOD OF MORE THAN THREE YEARS.
NOTE: IF THE BOARD IS NOTIFIED OF A COMPLAINT RELATIVE TO A CLAIM AGAINST THE CASH DEPOSIT, THE
DEPOSIT SHALL NOT BE RELEASED UNTIL THE COMPLAINT HAS BEEN ADJUDICATED.
Cash Deposits are held because a claim may be brought against a cash deposit within three years (two years for bonds)
after the expiration of the license period for which the cash deposit has been provided, or within three years (two years
for bonds) of the date on which the Board inactivates the license, whichever occurs fi rst.
Information on Alternatives in Lieu of Bond Requirements
A CERTIFICATE OF DEPOSIT:
Must be issued by a bank or savings and loan association doing business in this state;
Must show the business name of the applicant or licensee;
Must be made payable to the Contractors State License Board in the amount of Twelve Thousand
Five Hundred Dollars ($12,500);
Must be issued for a period of not less than one year;
Must be automatically renewable at each maturity date;
Must state that any interest earned will be paid to the depositor; and
Must have the signature of a bank representative on the face of the document.
A certifi cate of deposit will not be accepted when the word “Trustee” is included with the name of the payee.
AN ASSIGNMENT OF A BANK SAVINGS ACCOUNT, A SAVINGS AND LOAN ASSOCIATION INVESTMENT
CERTIFICATE OR SHARE ACCOUNT, OR A CREDIT UNION CERTIFICATE FOR FUNDS OR SHARE ACCOUNT
must be on a form approved by the Registrar of Contractors and be completed in accordance with instructions thereo