Section 403 Of Article 2. Bonds And Photographs From California Labor Code >> Division 2. >> Part 1. >> Chapter 3. >> Article 2.

. 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as a bond it shall be deposited in a savings account in a bank authorized to do business in this State, and may be withdrawn only upon the joint signatures of the employer and the employee or applicant.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.