Section 31-23-1 - Performance bond required--Amount of bond--Conditions of bond. - South Dakota Statutes

31-23-1. Performance bond required--Amount of bond--Conditions of bond. Except as provided in § 31-12-15, before any contract is entered into for the construction, repair, or improvement of any public highway by the State of South Dakota, or any public corporation within the State of South Dakota, the person to whom such contract is awarded shall furnish a performance bond running to the State of South Dakota in an amount not less than the contract price for the faithful performance of such contract, in the form and conditioned as required by the statutes of the State of South Dakota.

Source: SL 1941, ch 135, § 1; SDC Supp 1960, § 28.1601; SL 1987, ch 60, § 2.