City of Coalinga Commercial Marijuana Operations Bond California
In accordance with Section 9-5.128 of the Coalinga Municipal Code, prior to occupation or opening for business, the Business Owner of a commercial marijuana operation (“Marijuana Operation”) approved to operate in the City of Coalinga shall take out and maintain, at its own expense, a $25,000.00 Surety Bond which shall at all times be maintained while the Marijuana Operation is occupied or otherwise open for business.
All insurance and $25,000.00 Cannabis Surety Bonds shall be placed with an insurance company that is licensed and admitted to conduct business in the State of California and are rated at a minimum with an “A” by A.M. Best Company.
In accordance with State and City licensing requirements, a developer is required to post a $25,000. City of Coalinga Commercial Marijuana Bond to cover the costs of destruction of cannabis or cannabis products if necessitated by a violation of licensing requirements.
The purpose of this Marijuana Bond is to secure the payment of claims the City or State (collectively “Obligee”) may have for the destruction of the cannabis or cannabis products. Developer is required, before commencing operations, to file a good and sufficient $25,000. City of Coalinga Commercial Marijuana Surety Bond with the City to secure claims arising under the Permit as they relate to the destruction of the cannabis or cannabis products.
See below link for the copy of the bond form
Marijuana Bond Form City of Coalinga CA.pdf
Contact information and website for the City of Coalinga Obligee below:
Community Development Center
155 West Durian
Coalinga, CA 93210
Phone: (559) 935-1533