History of Actions | Background | Title |
Description: General contractors; furnish payment bond when requiring subcontractor to post performance bond.
| 1 | 01/20/97 | (S) | Referred To Business and Financial Institutions | |
| 2 | 02/04/97 | (S) | Died In Committee |
| Effective date | July 1, 1997 | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| 3/5ths vote required | No |
Senate Committee:
Principal Author: Hewes
Title: AN ACT TO PROVIDE THAT GENERAL CONTRACTORS WHO REQUIRE A SUBCONTRACTOR TO POST A PERFORMANCE BOND SHALL FURNISH TO THE OWNER A PAYMENT BOND, CONDITIONED FOR THE PROMPT PAYMENT OF ALL PERSONS SUPPLYING LABOR OR MATERIAL USED IN THE PROSECUTION OF THE WORK UNDER SUCH CONTRACT, FOR THE USE OF SUCH PERSON, IN AN AMOUNT NOT LESS THAN THE AMOUNT OF THE CONTRACT; AND FOR RELATED PURPOSES.
End Of Document
1997/History/SB\SB2977.htm