Bill Title: Amends the Public Construction Bond Act. Provides that the surety on a bond shall be a company with a certificate of authority from the Department of Insurance specifically authorizing it to execute surety bonds and a financial strength rating of at least A as rated by A.M. Best or a similar rating agency. Effective immediately.

Spectrum: Slight Partisan Bill (Democrat 2-1)

Status: (Passed) 2014-08-22 - Public Act . . . . . . . . . 98-1018 [HB4769 Detail]

Text: Latest bill text (Chaptered) [HTML]

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