California Statutes
§ 10222. — 10222. (Amended by Stats. 2010, Ch. 697, Sec. 45.)
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
(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.
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California § 10222. (10222. (Amended by Stats. 2010, Ch. 697, Sec. 45.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
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.