2006 Ohio Revised Code - [9.33.3] 9.333.Construction manager to provide financial assurance; waiver.
[§ 9.33.3] § 9.333. Construction manager to provide financial assurance; waiver.
No public owner shall enter into a contract with a construction manager unless the construction manager provides a letter of credit pursuant to
Chapter 1305. of the Revised Code, a surety bond pursuant to
sections 153.54 and
153.57 of the Revised Code, a certified check or cashier's check in an amount equal to the value of the construction management contract for the project, or provides other reasonable financial assurance of a nature and in an amount satisfactory to the owner. The public owner may waive this requirement for good cause.
HISTORY: 146 v H 231. Eff 11-24-95.
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