§ 13-10-41 - Alternatives to performance bond - Georgia Statutes

O.C.G.A. 13-10-41 (2010)
13-10-41. Alternatives to performance bond

When the amount of the performance bond required under this article does not exceed $300,000.00, the state may, in its sole discretion, accept an irrevocable letter of credit by a bank or savings and loan association, as defined in Code Section 7-1-4, in the amount of and in lieu of the bond otherwise required under this article.