Bond requirement; filing
Sec. 2. (a) A contractor doing work, other than work for a political
subdivision, in a county having a population of:
(1) more than four hundred thousand (400,000), but less than
seven hundred thousand (700,000); or
(2) more than one hundred forty-five thousand (145,000) but
less than one hundred forty-eight thousand (148,000);
must obtain a unified license bond as provided in this chapter. This
unified license bond is in lieu of any other bond for this type of work
required by the county or a city or town within that county, and the
bond must be in an amount equal to five thousand dollars ($5,000).
(b) The unified license bond shall be held for compliance with the
ordinances and regulations governing business in the county, or a
city or town within that county. The unified license bond required by
this chapter shall be filed with the county recorder.
As added by Acts 1981, P.L.11, SEC.127. Amended by Acts 1982,
P.L.1, SEC.52; P.L.12-1992, SEC.121; P.L.170-2002, SEC.127.
Last modified: May 27, 2006