Nebraska Administrative Code
Topic - LABOR, DEPARTMENT OF
Title 227 - DEPARTMENT OF LABOR
Chapter 10 - AMOUNT OF BOND OR DEPOSIT TO BE FILED
Section 227-10-002
Universal Citation: 227 NE Admin Rules and Regs ch 10 ยง 002
Current through March 20, 2024
The amount of the bond or deposit is $5, 000.00, unless a greater amount is required by the Commissioner. The bond and any financial instrument accompanying the trust agreement shall be in the principal sum of $5, 000.00 only (or greater amount if required by the Commissioner). The amount of the bond or deposit must be continually maintained as long as the contractor is required to be licensed. Should no claim against the bond or deposit be made six (6) months from the date of expiration of the license, the Commissioner shall terminate and/or surrender the bond or financial instrument accompanying the trust agreement to the person entitled thereto.
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