341.317 Bond of public works contractor.
126 words·~1 min read·
/ky/chapter-341/341-317A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)Before any contract, exceeding two thousand dollars ($2,000) in amount, is awarded
to any person for the construction, alteration, or repair of any public building or
public work of the Commonwealth of Kentucky, or any subdivision, county or
municipality thereof, such person shall furnish to the contracting agency, county or
municipality a payment bond with satisfactory surety, which shall become binding
upon the award of the contract to such person, to assure the payment of all
contributions under this chapter incurred by such person incident to his performance
of such contract.
(2)Nothing in this section shall be construed to limit the authority of any contracting
agency, county or municipality to require such other bonds or security as might be
elsewhere authorized or deemed desirable.