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AB-2677 Sureties: liability.(2023-2024)

Senate
Assembly
1st
Cmt
2nd
Pass
1st
Cmt
2nd
3rd
Pass
Pass
Veto
Senate
Assembly
1st
Cmt
2nd
Pass
1st
Cmt
2nd
3rd
Pass
Pass
Veto

Bill Status
AB-2677
Chen (A)
-
-
Sureties: liability.
03/16/24
An act to amend Section 996.470 of the Code of Civil Procedure, relating to sureties.
Assembly
09/04/24
04/17/24

Type of Measure
Inactive Bill - Vetoed
Majority Vote Required
Non-Appropriation
Non-Fiscal Committee
Non-State-Mandated Local Program
Non-Urgency
Non-Tax levy
Last 5 History Actions
Date Action
09/22/24 Vetoed by Governor.
09/11/24 Enrolled and presented to the Governor at 4 p.m.
08/30/24 In Assembly. Ordered to Engrossing and Enrolling.
08/30/24 Read third time. Passed. Ordered to the Assembly. (Ayes 34. Noes 3.).
06/27/24 Read second time. Ordered to third reading.
Governor's Message
To the Members of the California State Assembly: 

I am returning Assembly Bill 2677 without my signature. 

This bill would cap the aggregate liability of an insurer that issues a surety bond to the amount of the bond.

While I appreciate the author's attempt to reduce the cost of bonds for licensees, California law offers numerous avenues for insurers to limit their liability for attorney fees when faced with meritorious claims. I am concerned that this bill's limitation of attorney fees could have the unintended consequence of preventing all but the most affluent consumers from being able to seek redress if they are harmed.

For this reason, I cannot sign this bill.

Sincerely, 




Gavin Newsom