Bill Text: MS HB256 | 2014 | Regular Session | Introduced


Bill Title: Contractors bond; extend time that subcontractors have to file on.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2014-02-04 - Died In Committee [HB256 Detail]

Download: Mississippi-2014-HB256-Introduced.html

MISSISSIPPI LEGISLATURE

2014 Regular Session

To: Judiciary A

By: Representative Frierson

House Bill 256

AN ACT TO AMEND SECTION 85-7-187, MISSISSIPPI CODE OF 1972, TO REVISE THE TIME FOR SUBCONTRACTORS WITH A RIGHT OF ACTION AGAINST A CONTRACTORS BOND; AND FOR RELATED PURPOSES.

     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

     SECTION 1.  Section 85-7-187, Mississippi Code of 1972, is amended as follows:

     85-7-187.  If only a performance bond has been provided in accordance with this chapter and if no suit shall be brought by the obligee within * * *six (6) months one (1) year from the date of the earlier of final completion or actual use or occupancy of the project for its intended purpose, then any person supplying labor or materials to the bond principal on the project shall have a right of action on said bond for his use and benefit against said bond principal and the sureties thereon and to prosecute same to final judgment and execution, subject to the rights and demands of the bond obligee.

     SECTION 2.  This act shall take effect and be in force from and after July 1, 2014.


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