S.D. Codified Laws ch. 5-21 – Performance Bonds for Public Improvement Contracts | Midpage

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South Dakota Codified Laws

Chapter 5-21

S.D. Codified Laws ch. 5-21

Performance Bonds for Public Improvement Contracts

5-21-1Surety bond required--Obligation of prompt payment of laborers and materialmen.5-21-1.1Waiver of performance security requirement on contracts under certain amount.5-21-1.3Waiver of performance security requirement for emergency procurement.5-21-2Public corporation's civil liability for failure to require bond for protection of laborers and materialmen.5-21-3Surety bond to cover use tax liability--Amount of liability.5-21-4Notice of surety bond to secretary of revenue--Termination of surety's liability for use and excise tax.5-21-5Laborers' and materialmen's right to intervene in action against public contractor--Pro rata distribution if surety's liability insufficient.5-21-6Action by laborer or materialman on public contractor's bond--Limitation of action--Intervention by other claimants--Costs.5-21-7Pro rata distribution among claimants if bond insufficient--Surety relieved from liability by payment into court.5-21-8Personal and public notice to creditors of action on public contractor's bond.