Official Code of Georgia Annotated

Title 13. CONTRACTS · Chapter 10. CONTRACTS FOR PUBLIC WORKS · Article 1. GENERAL PROVISIONS · Part 3. Performance Bonds

13-10-41. Alternatives to performance bond.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

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.

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

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

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t13-(v11)-2010-pdf.pdf, Volume V11, 2010 edition, page 611; merge action: carried; file SHA-256 18573afb153d.