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Iowa Code § 573.3

Bond mandatory

[C24, 27, 31, 35, 39, §10301; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §573.3] 2000 Acts, ch 1023, §58

1. The obligation of the public corporation to require, and the contractor to execute and deliver said bond, shall not be limited or avoided by contract.

2. A public corporation, with respect to a public improvement which is or has been competitively bid or negotiated, shall not require a contractor to procure a bond, as required under section 573.2, from a particular insurance or surety company, agent, or broker.

Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.