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| [ Introduced ] | [ Engrossed ] | [ Senate Amendment 002 ] |
92_SB1882sam001
LRB9215844JMmbam01
1 AMENDMENT TO SENATE BILL 1882
2 AMENDMENT NO. . Amend Senate Bill 1882 on page 2, by
3 replacing lines 11 through 17 with the following:
4 "The surety bond required by this Section may be acquired
5 from the company, agent or broker of the contractor's choice.
6 The bond and sureties shall be subject to the right of
7 reasonable approval or disapproval, including suspension, by
8 the State or political subdivision thereof concerned. Except
9 as otherwise provided in this Act, a contractor shall not be
10 required to post a cash bond or letter of credit in addition
11 to, or as a substitute for, the surety bond required by this
12 Section.".