South Dakota § 5-18B-12 Bond or deposit of securities in lieu of retention of sums due for work performed.

South Dakota Statutes

§ 5-18B-12 — Bond or deposit of securities in lieu of retention of sums due for work performed.

South Dakota·Title 5 PUBLIC PROPERTY, PURCHASES AND CONTRACTS·Ch. 5-18 PROCUREMENT OF PUBLIC IMPROVEMENTS

The purchasing agency may include in any contract for a public improvement provisions for a bond or the deposit of securities in lieu of sums retained from payments due a contractor for work performed pursuant to the terms of the contract. The contract document shall state the types of bond or securities to be accepted and the procedural requirements for the deposits.

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

South Dakota § 5-18B-12 (Bond or deposit of securities in lieu of retention of sums due for work performed.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.