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HF 2654

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 11:32pm

KEY: stricken = removed, old language.
underscored = added, new language.
Version List Authors and Status
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Current Version - as introduced

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1.15

A bill for an act
 relating to electrical licenses; modifying bond requirements; amending
Minnesota Statutes 2008, section 326B.33, subdivision 15.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2008, section 326B.33, subdivision 15, is amended to
read:


Subd. 15.

Bond required.

As a condition of licensing, each contractor shall
give and maintain bond to the state in the sum of deleted text begin $25,000deleted text end new text begin $5,000new text end conditioned upon the
faithful and lawful performance of all work contracted for or performed by the contractor
within the state of Minnesota and such bond shall be for the benefit of persons injured
or suffering financial loss by reason of failure of such performance. The bond shall be
filed with the commissioner and shall be in lieu of all other license bonds to any other
political subdivision. Such bond shall be written by a corporate surety licensed to do
business in the state of Minnesota.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for licenses issued after July 30, 2010.
 new text end