Section 11710.2 Of Article 1. Issuance Of Licenses And Certificates To Manufacturers, Transporters, And Dealers From California Vehicle Code >> Division 5. >> Chapter 4. >> Article 1.
11710.2
. If a deposit is given instead of the bond required by
Section 11710 both of the following apply:
(a) (1) The director may order the deposit returned at the
expiration of any of the following dates:
(A) Three years from the date an applicant for a dealer's license
who has operated a business of selling vehicles under a temporary
permit has ceased to do business.
(B) Three years from the date a licensee has ceased to be
licensed, if the director is satisfied that there are no outstanding
claims against the deposit.
(C) Five years from the date a licensee secured and maintained a
dealer bond, pursuant to Section 11710, after posting a deposit, if
the director is satisfied that there are no outstanding claims
against the deposit.
(2) A judge of a superior court may order the return of the
deposit prior to the expiration of the dates provided in paragraph
(1) upon evidence satisfactory to the judge that there are no
outstanding claims against the deposit.
(b) If either the director, department, or state is a defendant in
any action instituted to recover all or any part of the deposit, or
any action is instituted by the director, department, or state to
determine those entitled to any part of the deposit, the director,
department, or state shall be paid reasonable attorney fees and costs
from the deposit. Costs shall include those administrative costs
incurred in processing claims against the deposit.