Section 1501.16 | Performance bond refunds fund.
There is hereby created in the state treasury the performance bond refunds fund. The fund shall consist of money received by the department of natural resources from other entities as performance security. Upon the completion of work or satisfaction of terms for which the performance bond was required, the money shall be refunded to the pledging entity. In the event that the performance bond is forfeited, the money shall be transferred to the appropriate fund within the state treasury.
Last updated September 13, 2023 at 11:36 AM
Available Versions of this Section
- October 3, 2023 – Enacted by House Bill 33 - 135th General Assembly [ View October 3, 2023 Version ]