2011 California Code
Civil Code
DIVISION 4. GENERAL PROVISIONS [3274 - 9566]
ARTICLE 3. Form of Security
Section 8730


CA Civ Code § 8730 (through 2012 Leg Sess) What's This?

If the contract price for a work of improvement is not a fixed price, the amount of security provided under this chapter shall be the guaranteed maximum price or, if there is no guaranteed maximum price, the owner s and direct contractor s good faith estimate of the reasonable value of the work to be provided pursuant to the contract.

(Added by Stats. 2010, Ch. 697, Sec. 20. Effective January 1, 2011. Operative July 1, 2012, by Sec. 105 of Ch. 697.)

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