New Hampshire § 447:16 Bond Required

New Hampshire Statutes

§ 447:16 — Bond Required

New Hampshire·Title XLI LIENS·Ch. 447 LIENS FOR LABOR AND MATERIALS·Subdivision Public Works

Officers, public boards, agents or other persons who contract in behalf of the state or any political subdivision thereof for the construction, repair or rebuilding of public buildings, public highways, bridges or other public works shall if said contract involves an expenditure of $75,000 in behalf of the state or $125,000 in behalf of a political subdivision, and may if it involves an expenditure of less amount, obtain as a condition precedent to the execution of the contract, sufficient security, by bond or otherwise, in an amount equal to at least 100 percent of the contract price, or of the estimated cost of the work if no aggregate price is agreed upon, conditioned upon the payment by the contractors and subcontractors for all labor performed or furnished, for all equipment hired, in

Free access — add to your briefcase to read the full text and ask questions with AI

Officers, public boards, agents or other persons who contract in behalf of the state or any political subdivision thereof for the construction, repair or rebuilding of public buildings, public highways, bridges or other public works shall if said contract involves an expenditure of $75,000 in behalf of the state or $125,000 in behalf of a political subdivision, and may if it involves an expenditure of less amount, obtain as a condition precedent to the execution of the contract, sufficient security, by bond or otherwise, in an amount equal to at least 100 percent of the contract price, or of the estimated cost of the work if no aggregate price is agreed upon, conditioned upon the payment by the contractors and subcontractors for all labor performed or furnished, for all equipment hired, including trucks, for all material used and for fuels, lubricants, power, tools, hardware and supplies purchased by said principal and used in carrying out said contract, and for labor and parts furnished upon the order of said contractor for the repair of equipment used in carrying out said contract.

New Hampshire § 447:16 (Bond Required) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

1927, 88:2. RL 264:26. 1943, 182:1, par. 26. 1949, 71:1. 1953, 253:3. RSA 447:16. 1979, 28:1. 1981, 4:5, eff. Mar. 6, 1981. 2009, 8:1, eff. June 16, 2009. 2017, 242:1, eff. Sept. 16, 2017.