The form of all bonds of licensees, permittees, and all persons other than public officers and employees, furnishing bonds to a State department, office, board, commission or bureau in pursuance of State law shall be on a form which form has been approved as to conformity with applicable law by the Attorney General.

The Attorney General may from time to time modify or revoke approvals so given.

The approval, modification, or revocation of the Attorney General shall be by regulation filed with the Secretary of State pursuant to Section 11380.

The Attorney General may consult with private persons, groups, and associations as to bond forms to be approved, modified, or revoked.