Action on performance bond

The obligee in any performance bond required to be given in accordance with this article shall be entitled to maintain an action thereon at any time upon any breach of such bond; provided, however, no action can be instituted on the bonds or security deposits after one year from the completion of the contract and the acceptance of the public work by the governmental entity. History. — Code 1981, § 36-91-52, enacted by Ga. L. 2000, p. 498, § 1; Code 1981, § 36-91-72, as redesignated by Ga. L. 2001, p. 820, § 12. Editor’s notes. — Ga. L. 2001, p. 820, § 12, effective July 1, 2001, redesignated former Code Section 36-91-72 as present Code Section 36-91-92. 36-91-73 through 36-91-75. Redesignated. Editor’s notes. — Ga. L. 2001, p. 820, § 12, effective July 1, 2001, redesignated former Code Sections 36-91-73 through 36-91-75 as present Code Sections 36-91-93 through 36-91-95, respectively. PART 4 PAYMENT BONDS Editor’s notes. — Ga. L. 2001, p. 820, § 12, effective July 1, 2001, redesignated former Article 5 (Code Sections 36-91-70 through 36-91-75) as Part 4 of Article 3. 36-91-90. Requirement for payment bonds.