An act TO AMEND THE LAW CONCERNING STATUTORY BONDING 10 REQUIREMENTS FOR CONSTRUCTION PROJECTS OF THE STATE 11 HIGHWAY COMMISSION, the official text

Stricken language would be deleted from and underlined language would be added to present law.

1 State of Arkansas             As Engrossed: S2/13/25
2 95th General Assembly
                                      A Bill

3 Regular Session, 2025                                             SENATE BILL 202

4

5 By: Senator Hickey

6 By: Representative Beaty Jr.

7

8                               For An Act To Be Entitled

9            AN ACT TO AMEND THE LAW CONCERNING STATUTORY BONDING

10           REQUIREMENTS FOR CONSTRUCTION PROJECTS OF THE STATE

11           HIGHWAY COMMISSION; AND FOR OTHER PURPOSES.

12

13

14                                    Subtitle

15                       TO AMEND THE LAW CONCERNING STATUTORY

16                       BONDING REQUIREMENTS FOR CONSTRUCTION

17                       PROJECTS OF THE STATE HIGHWAY

18                       COMMISSION.

19

20 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS:

21

22  SECTION 1. Arkansas Code � 27-67-206(f) and (g), concerning new

23 construction projects of the State Highway Commission, are amended to read as

24 follows:

25  (f) Successful bidders shall be required to furnish a surety bond or

26 bonds by a surety company to be approved by the commission, in a penal sum of

27 at least one-fourth (�) of the amount of the contract price, conditioned as

28 the commission may require to ensure that each contract between a bidder and

29 the commission is fully executed and completed and that the bond or bonds

30 fully cover the exposure of the state.

31  (g) However, the commission may accept personal bonds, but in every

32 case in which a personal bond is accepted, the contractor shall be required

33 to deposit United States Government bonds, state highway bonds or notes, or

34 valid bonds of any road improvement district referred to in Acts 1929, No.

35 65, � 19 [repealed], in an amount equal to twenty-five percent (25%) of the

36 amount of the contract to be held in escrow as collateral security for the

    *ZRC014*                                                    02-13-2025 08:57:39 ZRC014
         As Engrossed: S2/13/25  /s/Hickey                                        SB202
                                  2         02-13-2025 08:57:39 ZRC014
 1 performance of the contract.
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36