Section 406 Of Article 2. Bonds And Photographs From California Labor Code >> Division 2. >> Part 1. >> Chapter 3. >> Article 2.

. Any property put up by an employee, or applicant as a part of the contract of employment, directly or indirectly, shall be deemed to be put up as a bond and is subject to the provisions of this article whether the property is put up on a note or as a loan or an investment and regardless of the wording of the agreement under which it is put up.