1.1 	A bill for an act
1.2 	relating to electrical licenses; modifying bond requirements;amending 
1.3 	Minnesota Statutes 2008, section 326B.33, subdivision 15.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. Minnesota Statutes 2008, section 326B.33, subdivision 15, is amended to 
1.6 	read:
1.7 		Subd. 15.Bond required. As a condition of licensing, each contractor shall 
1.8 	give and maintain bond to the state in the sum of ~~$25,000~~ $5,000 conditioned upon the 
1.9 	faithful and lawful performance of all work contracted for or performed by the contractor 
1.10 	within the state of Minnesota and such bond shall be for the benefit of persons injured 
1.11 	or suffering financial loss by reason of failure of such performance. The bond shall be 
1.12 	filed with the commissioner and shall be in lieu of all other license bonds to any other 
1.13 	political subdivision. Such bond shall be written by a corporate surety licensed to do 
1.14 	business in the state of Minnesota.

1.15 	EFFECTIVE DATE. This section is effective for licenses issued after July 30, 2010.