§ 140. Disposition of deposit accompanying bid. Whenever as a condition precedent to the reception or consideration of a proposal for construction, alteration, repair or improvement for the state or any department or officer thereof, a deposit of a certified check, money, bonds, corporate stock, certificates of indebtedness, or otherwise, is required, a bidder under such proposal may withdraw his bid if no award of the contract be made within forty-five days after the receipt of the bids, and upon such withdrawal his deposit shall be forthwith returned to him. A check, money, corporate stock, bond, or other security, the deposit of which is required by statute to secure a bid upon such a proposal shall be retained under the jurisdiction of the comptroller until returned to the bidder, or forfeited as provided by the law pursuant to which such proposal was made. The provisions of this section shall supersede the provisions of any act inconsistent herewith.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
