§ 10222. — 10222. (Amended by Stats. 2010, Ch. 697, Sec. 45.)

California § 10222.

• Jurisdiction: California
• Code PCC: Public Contract Code - PCC
• Div. 2.: DIVISION 2. GENERAL PROVISIONS
• Part 2.: PART 2. CONTRACTING BY STATE AGENCIES
• Ch. 1.: CHAPTER 1. State Contract Act
• Art. 7.: ARTICLE 7. Contract Requirements

Text

(a)
Each bond shall equal at least one-half of the contract price, except as otherwise provided in
Section 9554 of the Civil Code, in the California Toll Bridge Authority Act (Chapter 1 (commencing with Section 30000) of Division 7 of the Streets and Highways Code), or in subdivision (b).
(b)
Notwithstanding subdivision (a), for projects with a contract price greater than two hundred fifty million dollars ($250,000,000), the Department of Transportation shall have the discretion to specify that the payment bond shall equal not less than one-half of the contract price or five hundred million dollars ($500,000,000), whichever is less.

Legislative History

Amended by Stats. 2010, Ch. 697, Sec. 45. (SB 189) Effective January 1, 2011. Operative July 1, 2012, by Sec. 105 of Ch. 697.