5-18B-4. Surety bond or insurance contract required in bid, in contract, or by law.
98 words·~1 min read·
/sd/title-5/chapter-5-18/5-18b-4A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
No purchasing agency may, directly or indirectly, require or direct a bidder on any public improvement contract that is about to be or has been competitively bid to obtain from a particular insurer or insurance producer any surety bond or contract of insurance required in the bid or contract or required by any law, ordinance, or rule. However, the surety insurer shall be an authorized insurer under Title 58. Nothing in this section prevents any purchasing agency from exercising the right to approve or reject a surety bond or contract of insurance as to its form or sufficiency.