Virginia § 33.2-268 Contractor performance bonds for locally administered transportation improvement projects

Virginia Statutes

§ 33.2-268 — Contractor performance bonds for locally administered transportation improvement projects

Virginia § 33.2-268

JurisdictionVirginia

Title 33.2HIGHWAYS AND OTHER SURFACE TRANSPORTATION SYSTEMS

Subtitle IGENERAL PROVISIONS AND TRANSPORTATION ENTITIES

Ch. 2TRANSPORTATION ENTITIES

Art. 4DEPARTMENT OF TRANSPORTATION

This text of Virginia § 33.2-268 (Contractor performance bonds for locally administered transportation improvement projects) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 33.2-268 (2026).

Text

Whenever any locality undertakes administration of a transportation improvement project and obtains, in connection therewith, contractor performance bonds that include the Department as a dual obligee, the amount of such bonds shall be no greater than would have been required had the Department not been included as a dual obligee. The surety's obligation to the Department shall be no greater than its obligation to the locality administering the project, and the amount of the bond is the limit of the surety's obligation to either or both obligees.

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Whenever any locality undertakes administration of a transportation improvement project and obtains, in connection therewith, contractor performance bonds that include the Department as a dual obligee, the amount of such bonds shall be no greater than would have been required had the Department not been included as a dual obligee. The surety's obligation to the Department shall be no greater than its obligation to the locality administering the project, and the amount of the bond is the limit of the surety's obligation to either or both obligees.