The state of california was given a time deposit for the ammount of 10,000 from me instead of a Bond back when i opened my business .
As i figured it was gonna be hell trying to retrieve my money back .
Time Deposit was filed with the California State License Board for a period of 3 years in the ammount of $10,000 .
Jan 1st 2007 :
New law gets approved and all contractors are required to have a bond or time deposit for the new ammount of $12,500
Jan 25th 2007 :
Decided to purchase a bond for 12,500 and retrieve my Deposit .
Jan 27th 2007 :
After exausting calls i managed to talk to the right person on the bonding unit only to find out my time deposit had to remain on file for an additional 2 years .
Having my hopes crushed i resigned myself to wait this two years and pay a penalty for early withrawal as soon as CSLB would release my Deposit.
I WANT MY MONEY BACK!!!
Aug 20th 2007 :
Time Deposit matures and is currently during the grace period of 10 days .
I decided to make a call to the CSLB and after a half hour long answering service i was in contact with a person who wouldnt even let me explain my problem .
This person decided to give me the bonding unit phone number for further assistance .
I finally got thru to the bonding unit and a lady took my information .
Before i could put a word in she expalined my time deposit had to remain on file for 3 YEARS!!! FROM THE END OF MY CURRENT LICENSE PERIOD !! WHICH IS 2008!!!
MEANING I COULD GET MY MONEY BACK ON 2011!!!
All she said was that i probably had the “old documentation” where it said it was less time.
I am so dam frustrated right now and i am pretty sure even if i wait that long they will come up with more BS by then and they will change the story on me .
I HOPE THIS HELPS SOMEONE SO HE DOESNT HAVE TO GO THRU THIS @!@#!$%#