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Arkansas Code Title 18. Property § 18-44-506. Surety and conditions

Current as of March 28, 2024 | Updated by Findlaw Staff

The payment bond or performance bond required or authorized in this subchapter shall be:

(1) Executed by a solvent corporate surety company authorized to do business in the State of Arkansas; and

(2) Conditioned that the contractor shall:

(A) Perform his or her obligations under the construction contract, public construction contract, or real estate contract; and

(B) Pay all amounts owed for labor and materials furnished or performed under the construction contract, public construction contract, or real estate construction contract.

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Cite this article: FindLaw.com - Arkansas Code Title 18. Property § 18-44-506. Surety and conditions - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-18-property/ar-code-sect-18-44-506/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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