GENERAL ASSEMBLY OF NORTH CAROLINA

1983 SESSION

 

 

CHAPTER 818

HOUSE BILL 1119

 

AN ACT TO AMEND THE STATUTE RELATING TO PAYMENT AND PERFORMANCE BONDS FOR PUBLIC CONTRACTS.

 

The General Assembly of North Carolina enacts:

 

Section 1.  G.S. 44A-26(a) is amended by rewriting the first three lines to read:

"§ 44A-26. Bonds required.-(a) When the total amount of construction contracts awarded for any one project exceeds thirty thousand dollars ($30,000) a performance and payment bond as set forth in (1) and (2) is required by the contracting body from any contractor with a contract more than fifteen thousand dollars ($15,000). In the discretion of the contracting body, a performance and payment bond may be required on any construction contract as follows:".

Sec. 2.  This act shall become effective October 1, 1983.

In the General Assembly read three times and ratified, this the 19th day of July, 1983.