Title Minnesota Statutes, Minnesota Statutes

574.06 DEPOSIT OF SECURITIES. These bonds so pledged shall be delivered to the officer or department required by law to receive the bonds of public contractors, or who may be designated by the state or other municipal corporation or department with which the contract may be made.…

574.07 MARKET VALUE. The market value of the bonds so pledged shall not be less than the contract price. History: (9681) 1919 c 346 s 3

574.08 PROTECTION OF PLEDGE ON COMMENCING ACTION. Any person entitled to the protection of such pledge, wishing to take advantage of its benefits at the time of commencing any action against either the contractor or any subcontractor engaged in such work, shall notify, in writing…

574.09 ADDITIONAL SECURITY. When, in its judgment, other or further security is required, the state or such other corporation or department may require the contractor to furnish other or further security of the same nature within ten days, and thereupon if so ordered, the work on…

574.10 NOTICE OF CLAIM. No action shall be maintained by any person seeking to take advantage of the benefit of such pledge, unless within 90 days after the completion of the contract and acceptance by the proper public authorities of the work done, the plaintiff shall serve upon…

574.11 RECEIVERS' BONDS TO RUN TO STATE. Bonds given by receivers and trustees appointed by the district court in any action or proceedings shall run to the state of Minnesota for the benefit of all persons in interest. Any person interested may maintain an action in the person's…

574.12 MODES OF JUSTIFICATION. The justification of sureties mentioned in section 574.01 shall be by affidavit, annexed to the bond or other security, wherein each surety shall state, under oath, that it is worth a certain definite amount above its debts and liabilities and exclu…

574.13 STATE AND COUNTY OFFICERS; UNIFORM BOND. When, by law, an official bond is required of any state or county officer, it shall be sufficient for all purposes if the same be substantially in the following form: "Know All by These Presents, that ..................., as princip…

574.14 BONDS EXECUTED UNDER OTHER PROVISIONS. All those rights and obligations which would be created were the bond of any such officer executed under any other law are hereby declared to exist and be of the same force where such bond is executed in the foregoing form. History: (…

574.15 SURETY COMPANIES. When the bond or other instrument is required to be made with one surety, or with two or more sureties, it shall be sufficient if the same be executed, or the conditions thereof be guaranteed, solely by a corporation authorized by law so to do. No such co…

574.16 SURETY, SUBROGATION. When the surety upon the bond of any state officer shall have fulfilled the conditions of such bond and compensated the state for any loss occasioned by any act or omission of such officer, such surety shall be subrogated to all the rights of the state…

574.17 SURETIES FOR PART OF PENALTY. Sureties may be accepted, in the discretion of the approving officer or body, for a part only of the penalty, and may justify in separate and different sums; but the aggregate liability of the sureties shall in all cases be not less than that …

574.18 UNDERTAKING IN LIEU OF BOND. In all cases of appeal from a county board to the district court upon the allowance or disallowance of claims, in all actions begun in the district court, in all cases of appeal or writ of error to remove a cause or proceeding to the court of a…

574.19 COST OF SURETY BONDS; PROPER EXPENSE ITEMS. Any receiver, assignee, trustee, committee, guardian, executor, administrator, or other fiduciary, required by law to give bond as such, may include as a part of lawful expenses such actual sum paid for such suretyship, not excee…

574.20 BONDS, BY WHOM APPROVED. Except as otherwise provided by law in particular cases, bonds shall be approved as follows: (1) the official bonds of all state officers, including those of the treasurers, superintendents, and other officials, and employees of the several public …

574.205 BONDS; STATE OFFICIALS AND EMPLOYEES EXCLUDED. On and after July 1, 1971, and notwithstanding any law to the contrary, elected state officials, appointed state officers and other state employees are not required to give and file surety or fidelity bonds, except when feder…

574.21 PLACE OF FILING BONDS. Except when otherwise especially provided by law, the bonds of public officials shall be filed as follows: (1) those of all state officers, including the officials and employees of the several departments and institutions thereof, with the secretary …

574.22 COURT PROCEEDINGS. All bonds required or permitted by law to be given in actions or proceedings in any court shall be filed in such court, unless especially required by law to be filed, delivered, or deposited elsewhere, or unless the judge or justice of such court shall, …

574.23 EXAMINATION OF ACCOUNTS OF PUBLIC OFFICERS. In case of the filing of a new official bond or other security, the expiration of the term of office, or the death, resignation, or removal of the officer, the officer, board, committee, or body required or permitted to accept or…

574.24 OFFICIAL BONDS, SECURITY TO WHOM; ACTIONS. The official bond or other security of a public officer, whether with or without sureties, shall be security to all persons severally for the official delinquencies against which it is intended to provide, as well as to the oblige…

574.25 LEAVE TO BRING ACTION; ENDORSEMENT ON EXECUTION. Before an action shall be brought by a plaintiff other than the state or body politic named in the bond, leave shall be obtained of the district court of the county in which the action is triable, or a judge thereof, by the …

574.26 CONTRACTORS' BONDS FOR PUBLIC WORK. § Subdivision 1.Citation. (a) Sections 574.26 to 574.32 are the "Public Contractors' Performance and Payment Bond Act," within those sections referred to as "the act." (b) For the purposes of the act: (1) "public body" means the state, m…

574.261 PUBLIC WORK; SECURITY. § Subdivision 1.Certified or cashier's check. With the approval of the commissioner of administration and if the amount of the contract is not more than $5,000 a person may make a contract with the state to do public work and in place of giving the …

574.262 SMALL BUSINESS. § Subdivision 1.Bonds. To carry out the programs, established elsewhere by law, for awarding certain portions of state construction and procurement contracts and subcontracts to small businesses and small businesses owned by economically and socially disad…

574.263 NATURAL RESOURCE DEVELOPMENT PROJECTS. § Subdivision 1.Definition. For the purposes of this section and section 574.264, "natural resource development project" includes site preparation by discing, shearing, rock raking or piling, patch scarification, or furrowing; prairi…

574.264 NATURAL RESOURCE PROJECT; SECURITY. § Subdivision 1.Natural resource development projects. In place of a performance or payment bond or bid deposit for a state contract for a natural resource development project less than $100,000, the person required to file the bond or …

574.27 BIDDERS TO HAVE RIGHT OF ACTION IN CERTAIN CASES. A public body may require that a bidder provide a bid bond or other security as a proposal guaranty that the bidder will enter into a contract if its bid is accepted. Any bidder upon any public work or public improvement of…

574.28 APPROVAL AND FILING OF BOND. Before beginning work on the contract for the public work, the contractor on whose behalf the payment and performance bonds were issued must file both bonds with the treasurer, board, or officer having financial management of the public body na…

574.29 FAILURE TO GET PAYMENT BOND. If the state or other public body fails to get and approve a valid payment bond or securities in place of a payment bond as required by the act, the public body for which work is done under the contract is liable to all persons furnishing labor…

574.30 INSOLVENT OR INSUFFICIENT SURETIES. When, in the public body's judgment, a surety on a bond required by the act is insolvent, or for any cause is no longer a proper or sufficient surety, the public body may require the contractor to furnish a new or additional bond within …

574.31 LIMIT OF TIME TO BRING ACTION. § Subdivision 1.Claims on performance bonds. In the event of a claim by the public body on a performance bond, no action shall be maintained later than permitted under the statute of limitations applicable to the claim. Nothing in this subdiv…

574.32 APPLICATION OF PAYMENTS. If a claimant on a payment bond had actual knowledge or should have known that a payment it received was for labor and materials supplied under, or to perform, public work under which a payment bond was provided, then the claimant must prove that i…

574.33 ACTIONS FOR FINES, FORFEITURES, AND PENALTIES; COLLUSION. Actions for fines and forfeitures may be prosecuted by the officers or persons to whom they are by law given, or who by special provisions of law are authorized to recover them; and, whether prosecuted by public off…

574.34 FINES, HOW DISPOSED OF. § Subdivision 1.General. Fines and forfeitures not specially granted or appropriated by law shall be paid into the treasury of the county where they are incurred, except in a county in a judicial district under section 480.181, subdivision 1, paragr…

574.35 PROSECUTION FOR FINES; COURT; COMMITMENT. All fines and forfeitures imposed as a punishment for any offense or for the violation of any duty imposed by statute may be prosecuted for and recovered by indictment in the district court. In all cases of the imposition of a fine…

574.38 LETTERS OF CREDIT. Whenever this chapter or other law or home rule charter requires a performance bond from a contractor doing a public work project of under $50,000 for a home rule charter or statutory city, county, town, school district or other local government authorit…

574.39 SURETY BONDS; PUBLIC ENTITIES. The state or a county, town, home rule charter or statutory city, school district, or other municipal corporation or political subdivision of this state shall not require a contractor to procure a surety bond from a particular insurance or su…