(a) “Bond” includes both of the following:

(1) A surety, indemnity, fiduciary, or like bond executed by both the principal and sureties.

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(2) A surety, indemnity, fiduciary, or like undertaking executed by the sureties alone.

(b) A bond provided for or given “in an action or proceeding” does not include a bond provided for, or given as, a condition of a license or permit.

(Added by Stats. 1982, Ch. 998, Sec. 1.)