- A. It is possible to have multiple violations on a single project. Only one code bond can be used to indemnify a particular code violation listed in a CUV per trade bureau jurisdiction. If there are multiple violations by multiple licensees, only the code bond belonging to the responsible party can be used to indemnify the code violation.
- B. Legal fees and other related costs are not collectable from the code bond disbursements. Any disputes not covered by the code bond must be resolved through civil litigation in a court of law or by means of mediation, neither of which the division or the surety can be a party.
- C. Priority on claims against a code bond is established by the person that is first in time to file a completed form provided by the division requesting a code bond determination regardless of when the work occurred.
[14.5.9.12 NMAC - N, 04/30/15]