When the amount of the performance bond required under this article does not exceed $750,000.00, the governmental entity may, in its 1404 36-91-90 sole discretion, accept an irrevocable letter of credit by a bank or savings and loan association, as defined in Code Section 7-1-4, in the amount of and in lieu of the bond otherwise required under this article. History. — Code 1981, § 36-91-51, enacted by Ga. L. 2000, p. 498, § 1; Code 1981, § 36-91-71, as redesignated by Ga. L. 2001, p. 820, § 12; Ga. L. 2007, p. 209, § 2/HB 134. Editor’s notes. — Ga. L. 2001, p. 820, § 12, effective July 1, 2001, redesignated former Code Section 36-91-71 as present Code Section 36-91-91.
Acceptable substitutes for bond
O.C.G.A. § 36-91-71 — under Title 36.
O.C.G.A. § 36-91-71