The person or persons to whom a contract may be awarded shall enter into a bond with good and sufficient sureties, to be approved by the board of directors, payable to such district for its use, in an amount equal to the contract price for the faithful performance of the contract.
S.D. Codified Laws § 46A-5-14
Contractor's bond--Sureties--Approval by board of directors--Terms
Source: SDC 1939, § 61.0919; SDCL, § 46-13-14; SL 1976, ch 277, § 10.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.