South Dakota § 5-21-3 Surety bond to cover use tax liability--Amount of liability.

South Dakota Statutes

§ 5-21-3 — Surety bond to cover use tax liability--Amount of liability.

South Dakota·Title 5 PUBLIC PROPERTY, PURCHASES AND CONTRACTS·Ch. 5-21 PERFORMANCE BONDS FOR PUBLIC IMPROVEMENT CONTRACTS

If a contract is entered into for the construction, alteration, or repair of improvements to be located in this state, including public improvements, and the contractor or subcontractor furnishes surety for the faithful performance of the contract, there is hereby imposed an additional obligation upon the surety to the State of South Dakota that the contractor or subcontractor shall promptly pay all taxes which may accrue to the State of South Dakota under the provisions of chapters 10-46 , 10-46A , and 10-46B . For the purposes of this section and § 5-21-4 the term, surety, means a bond or undertaking executed by a surety company authorized to do business in the State of South Dakota.

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

If a contract is entered into for the construction, alteration, or repair of improvements to be located in this state, including public improvements, and the contractor or subcontractor furnishes surety for the faithful performance of the contract, there is hereby imposed an additional obligation upon the surety to the State of South Dakota that the contractor or subcontractor shall promptly pay all taxes which may accrue to the State of South Dakota under the provisions of chapters 10-46 , 10-46A , and 10-46B . For the purposes of this section and § 5-21-4 the term, surety, means a bond or undertaking executed by a surety company authorized to do business in the State of South Dakota.

South Dakota § 5-21-3 (Surety bond to cover use tax liability--Amount of liability.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.