CHAPTER 5. Improvement Security
Chapter 5 added by Stats. 1974, Ch. 1536.
§§ 66499–66499.10 · 11 sections
- § 66499 (a) Whenever this division or a local ordinance authorizes or requires the furnishing of security in connection with the performance of any act or agreement,…
- § 66499.1 Except as provided in Section 66499.3, a bond or bonds by one or more duly authorized corporate sureties to secure the faithful performance of any agreement…
- § 66499.2 A bond or bonds by one or more duly authorized corporate sureties for the security of laborers and material suppliers shall be in substantially the following…
- § 66499.3 Security to guarantee the performance of any act or agreement shall be in the following amounts: (a) An amount determined by the legislative body, not less…
- § 66499.4 As a part of the obligation guaranteed by the security and in addition to the face amount of the security, there shall be included costs and reasonable…
- § 66499.5 If the required subdivision improvements are financed and installed pursuant to special assessment proceedings, the local agency at its option may provide by…
- § 66499.6 Such money, negotiable bond or instrument of credit shall be a trust fund to guarantee performance and shall not be subject to enforcement of a money judgment…
- § 66499.7 The security furnished by the subdivider shall be released in whole or in part in the following manner: (a) Security given for faithful performance of any act…
- § 66499.8 In all cases where the performance of the obligation for which the security is required is subject to the approval of another agency, the local agency shall…
- § 66499.9 Any liability upon the security given for the faithful performance of any act or agreement shall be limited to: (a) The performance of the work covered by the…
- § 66499.10 Where the security is conditioned upon the payment to the contractor, his subcontractors and to persons furnishing labor, materials or equipment to them for…