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Official Code of Georgia Annotated

Title 36. LOCAL GOVERNMENT · Chapter 91. PUBLIC WORKS BIDDING · Article 3. BONDS · Part 3. PERFORMANCE BONDS

36-91-71. Acceptable substitutes for bond.

Active

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

  1. When the amount of the performance bond required under this article does not exceed $750,000.00, the governmental entity 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.

History

Code 1981, § 36-91-51, enacted by Ga. L. 2000, p. 498, § 1; Code 1981, § 36-91-71, as redesignated by Ga. L. 2001, p. 820, § 12; Ga. L. 2007, p. 209, § 2/HB 134.

Editor's notes

Ga. L. 2001, p. 820, § 12, effective July 1, 2001, redesignated former Code Section 36-91-71 as present Code Section 36-91-91.

Law reviews

For survey article on local government law, see 59 Mercer L. Rev. 285 (2007).

Read the official page (the state's PDF, opened at the page this text was read from).

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

Text read from t36-ch60-92-(v27a)-2025-pdf.pdf, Volume V27A, 2025 edition, page 645; merge action: bound only; file SHA-256 5150ee8c60f7.