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18.37 Deposit with bid or yearly bond.

A bidder shall deposit with the director at the time the bidder files a bid, a certified check or credit union certified share draft payable to the state treasurer for an amount to be fixed in the specifications, either covering all classes or items, or separate checks or drafts for each bid in case the bidder makes more than one bid. In lieu of checks or share drafts the bidder may furnish a yearly bond in an amount to be established by the director. Checks or share drafts deposited by unsuccessful bidders, and by successful bidders when they have entered into the contract, shall be returned to them.

Section History: Early form

[C24, 27, 31, 35, 39, § 193; C46, 50, 54, 58, 62, 66, 71, 73, § 15.16; C75, 77, 79, 81, § 18.37]

Section History: Recent form

84 Acts, ch 1055, § 1

Internal References

Referred to in § 18.3, 18.28, 18.30, 18.50

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Last update: Mon Jan 27 16:05:08 CST 1997
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