{"data":{"id":"us-dc/d.c.-code-28-4604","jurisdiction":"us-dc","citation":"D.C. Code § 28-4604","heading":"Bond requirements.","body":"(a)\nA consumer credit service organization that charges or receives money or other valuable consideration prior to completion of services under a contract or agreement shall obtain a surety bond or establish a trust account that guarantees a refund to a consumer of any money or other valuable consideration paid by the consumer. The bond shall be in the amount of $25,000 and issued by a surety company legally allowed to do business in the District. A trust account established to guarantee a refund to a consumer shall have a minimum balance of $25,000 and be deposited at a federally insured bank or savings and loan association located in the District.\n\n(b)\nFunds from the bank account or surety bond shall be used to refund payment to a consumer who cancels a contract, to pay any damages assessed against a consumer credit service organization in an action arising from a violation of this chapter, or to settle a consumer complaint filed with the Mayor against a consumer credit service organization.","path":["Title 28. Commercial Instruments and Transactions. [Enacted title]","Chapter 46. Consumer Credit Service Organizations."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/28-4604","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"c7f93cc4f0458250e6ff0c0d4b3987185934e8e385e638c0ec7cc68bbc044dad","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-28-4603","next":"us-dc/d.c.-code-28-4605"},"notice":"GroundRules: Original legal text. Not legal advice."}