2006 Nebraska Revised Statutes - § 77-3105 — Nonresident contractor; contract; before performance; bond, conditions; file.

Section 77-3105
Nonresident contractor; contract; before performance; bond, conditions; file.

Every contractor required to register any contract or contracts, under the provisions of sections 77-3101 to 77-3112, shall, for each such contract and before entering into the performance of such contract or contracts, execute and file with the Tax Commissioner either (1) a good and valid bond issued by a surety company authorized to do business in this state, or with sufficient sureties to be approved by the Tax Commissioner, conditioned that all taxes, including contributions due under the Employment Security Law, which may accrue to the State of Nebraska and the political subdivisions thereof on account of the execution and performance of such contract or contracts, will be paid when due, and the execution and filing of such bond shall be a condition precedent to commencing work on any contract in the State of Nebraska, or (2) such other form of assurance of such performance as shall be acceptable to the Tax Commissioner. Bonds filed pursuant to this section shall be subject to the following conditions:

(1) The Tax Commissioner may, at his discretion, allow the execution and filing of one bond to be sufficient for commencing performance of all such contracts; PROVIDED, that such bond shall be conditioned as provided in this section with respect to all contracts to be performed during the current calendar year and shall be in the sum of not less than five thousand dollars;

(2) If at any time the Tax Commissioner shall determine that the amount of any bond is not sufficient to cover the tax liabilities accruing to the State of Nebraska or the political subdivisions thereof for the current calendar year, the Tax Commissioner shall require such bond to be increased in such sum as the Tax Commissioner may determine to be proper;

(3) When any nonresident contractor shall have fully performed the contracts registered by him and shall have made payments of all taxes, including contributions due under the Employment Security Law, which accrued to the State of Nebraska and the political subdivisions thereof on account of the execution and performance of such contracts, the bond or bonds may be released by the Tax Commissioner; and

(4) Any bond or bonds required in this section are in addition to, separate, and distinct from all bonds required under the provisions of section 77-3104.

Source:

Laws 1969, c. 637, § 5, p. 2548

Cross References:

Employment Security Law,see section 48-601.

~Reissue Revised Statutes of Nebraska