§ 16-6-114 — Contractor's performance and payment bond or other guarantee; requiring new or additional bond or other guarantee; failure to furnish

If in its judgment any of the sureties on a bond or other form
of guarantee approved by the public entity under W.S. 16-6-112
are insolvent or for any cause are no longer proper or
sufficient sureties, the obligee may within ten (10) days
require the contractor to furnish a new or additional bond or
other approved guarantee. If ordered by the obligee, all work on
the contract shall cease until a new or additional bond or other
guarantee is furnished. If the guarantee is not furnished within
ten (10) days, the obligee may at its option terminate the
contract and complete the contract as the agent and at the
expense of the contractor and his sureties.