Sections
6 entriesSection 8720Requires an owner to provide the security required by this chapter through a qualifying bond, a qualifying irrevocable letter of credit, or…Section 8722Requires a chapter bond from a qualifying admitted surety and in an amount of at least 15 percent of contract price, or…Section 8724Requires an irrevocable letter of credit to benefit the direct contractor, be issued by a qualifying financial institution, and equal at least…Section 8726Requires a construction-security escrow account to be designated as such, located in this state with a qualifying escrow holder, funded as required,…Section 8728Requires a construction-security escrow deposit before work of at least 15 percent of contract price, or 25 percent if substantial completion is…Section 8730Sets the security amount under this chapter for a work of improvement without a fixed contract price at the guaranteed maximum price.…