When a bidder submits a bid to the department, the director may require the bidder to file a bid bond or a certified or cashier's check payable to the state treasurer in an amount to be fixed in the bid specifications, either covering all classes or items or services, or separate certified or cashier's checks for each bid in case the bidder makes more than one bid. In lieu of a certified or cashier's check, the bidder may furnish a yearly bond in an amount to be established by the director. Certified or cashier's checks deposited by unsuccessful bidders, and by successful bidders when they have entered into the contract, shall be returned to them.
[C24, 27, 31, 35, 39, § 193; C46, 50, 54, 58, 62, 66, 71, 73, § 15.16; C75, 77, 79, 81, § 18.37]
84 Acts, ch 1055, § 1; 98 Acts, ch 1164, §23; 99 Acts, ch 121, §6
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