67-7427. VENDOR PERFORMANCE BONDS. Each vendor, at the time of executing a contract, shall post a performance bond in a manner and form as required by the commission. The commission may accept other security in lieu of a bond when in its judgment the security is sufficient to guarantee the faithful performance of the contract.
History:
[67-7427, added 1988, ch. 232, sec. 2, p. 456; am. 1989, ch. 352, sec. 16, p. 889.]