§ 2791.3. Lien and Completion Bonds for Onsite Construction Work.

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The penal sum of a bond or bonds furnished by or on behalf of a subdivider pursuant to Section 11013.4(d)(2) of the Code shall ordinarily be not less than 120 percent of the estimate of the total cost of the onsite construction work to be completed on the subdivision interest being offered for sale or lease.

HISTORY

1. New section filed 9-5-2003; operative 10-5-2003 (Register 2003, No. 36). For prior history, see Register 96, No. 46.

Note

Note: Authority cited: Section 11001, Business and Professions Code. Reference: Section 11013.4, Business and Professions Code.

                    
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