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Current as of January 01, 2023 | Updated by FindLaw Staff
Before beginning work on the contract for the public work, the contractor on whose behalf the payment and performance bonds were issued must file both bonds with the treasurer, board, or officer having financial management of the public body named in the bonds. The payment and performance bonds must list the address of the contractor on whose behalf the bonds were issued and of the surety providing the bonds. The payment and performance bonds, if acceptable in form and content, must be approved by the board or officer having financial management of the public body, or by the public body's treasurer. The public body must make the payment and performance bonds available for inspection and copying upon request. An assignment, modification, or change of the contract, or change in the work covered by the contract, or an extension of time to complete the contract, does not release the sureties on the bonds.
Cite this article: FindLaw.com - Minnesota Statutes Postjudgment Remedies; Alternative Dispute Resolution; Bonds (Ch. 570-583) § 574.28. Approval and filing of bond - last updated January 01, 2023 | https://codes.findlaw.com/mn/postjudgment-remedies-alternative-dispute-resolution-bonds-ch-570-583/mn-st-sect-574-28/
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 or via Westlaw before relying on it for your legal needs.
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