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O.C.G.A. § 13-10-41 — Alternatives to performance bond | Georgia Code

O.C.G.A. § 13-10-41 (2018) Copy Cite Official Site Syfertize CourtListener Scholar Amendments

TITLE 13 CONTRACTS

Section 10. Contracts for Public Works, 13-10-1 through 13-10-91.

ARTICLE 1 GENERAL PROVISIONS

13-10-41. Alternatives to performance bond.

When the amount of the performance bond required under this article does not exceed $300,000.00, the state may, in its sole discretion, accept an irrevocable letter of credit by a bank or savings and loan association, as defined in Code Section 7-1-4, in the amount of and in lieu of the bond otherwise required under this article.

(Code 1981, §13-10-41, enacted by Ga. L. 2001, p. 820, § 1.)

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This Georgia Code resource is curated by Graham W. Syfert, a personal injury and workers' compensation attorney admitted in Georgia (State Bar of Georgia No. 881027, since 2006) and Florida. For legal consultation, call 904-383-7448.