Bill Text: MA H3864 | 2009-2010 | 186th General Court | Introduced
Bill Title: Performance bonds for contracts or agreements for the rehabilitation, reconstruction or remodeling buildings or structures
Sponsorship: Partisan Bill (Democrat 1)
Status: (Introduced - Dead) 2009-01-20 - Public Hearing date 9/23 at 10:00 AM in Room 437 [H3864 Detail]
Download: Massachusetts-2009-H3864-Introduced.html
The Commonwealth of Massachusetts
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PRESENTED BY:
Thomas A. Golden, Jr.
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To the
Honorable Senate and House of Representatives of the Commonwealth of
Massachusetts in General
��������������� Court assembled:
��������������� The undersigned legislators and/or citizens respectfully petition for the passage of the accompanying bill:
An Act relative to performance bonds.
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PETITION OF:
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Name: |
District/Address: |
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Thomas A. Golden, Jr. |
16th Middlesex |
The Commonwealth of
Massachusetts
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In the Year Two Thousand and Nine
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An Act relative to performance bonds.
��������������� Be
it enacted by the Senate and House of Representatives in General Court
assembled, and by the authority of the same, as follows:
SECTION 1 Chapter 93A of the General Laws, as appearing in the 2006 Official Edition, is hereby amended by adding the following section:-�
����������� Section 12.� No person shall enter into a contract or agreement for the rehabilitation, reconstruction or remodeling of any existing building or structure for equal to or greater than $250,000 with a subcontractor unless such contract or agreement contains a performance bond, which for the purposes of this section, shall mean an irrevocable financial instrument as security for the faithful performance of the contract and which binds the contractor to fulfill its obligations under contract with any subcontractor.�� Notwithstanding any other provision of this chapter, a violation of this section shall be an unfair or deceptive act.
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