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Ark. Code Ann. § 22-9-405

Prohibition on directed suretyship

Acts 2001, No. 771, § 1.

(1) It is unlawful for any contracting body referenced in § 22-9-401 or any person acting on behalf of such contracting body to require a bidder or contractor to obtain or procure any surety bond from any particular insurance company or surety company, agent, or broker or to include surety bonds in an owner-controlled insurance program.

(2) Any person who violates the provisions of this section is guilty of a Class A misdemeanor.

Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.