Not later than June 1, 2010, the State Contracting Standards Board shall adopt regulations, in accordance with the provisions of chapter 54, that require bid security for all competitive sealed bidding for construction contracts in a design-bid-build procurement when the price is estimated by the state contracting agency to exceed five hundred thousand dollars.
(Sept. Sp. Sess. P.A. 07-1, S. 42.)
History: Sept. Sp. Sess. P.A. 07-1 effective January 1, 2009.
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