2014 Idaho Statutes
Title 54 - PROFESSIONS, VOCATIONS, AND BUSINESSES
Chapter 19 - PUBLIC WORKS CONTRACTORS
Section 54-1926A - USE OF GOVERNMENT OBLIGATIONS INSTEAD OF SURETY BONDS.
(c) Using a government obligation instead of a surety bond for security is the same as using:
(d) When security is no longer required, a government obligation given instead of a surety bond shall be returned to the person giving the obligation. If a person supplying labor or material to a contractor defaulting under the public contracts bond act, sections 54-1925 through 54-1930, Idaho Code, files with the contracting body the application and affidavit provided under section 54-1927, Idaho Code, the contracting body:
(e) The provisions of this section do not affect the:
(f) To avoid frequent substitution of government obligations, the state treasurer may promulgate rules limiting the effect of the provisions of this section, to a government obligation maturing more than one (1) year after the date the obligation is given as security.
History:
[54-1926A, added 1986, ch. 67, sec. 3, p. 192; am. 1992, ch. 17, sec. 1, p. 50; am. 2005, ch. 213, sec. 32, p. 665.]
Disclaimer: These codes may not be the most recent version. Idaho may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.