Arizona § 30-191 - Indemnity or performance bonds as security; collateral security in lieu of bond
Full text of Arizona Arizona Revised Statutes § 30-191 — Indemnity or performance bonds as security; collateral security in lieu of bond, with citation guidance and answers to common questions.
§ 30-191. Indemnity or performance bonds as security; collateral security in lieu of bond
A. Operating units may execute and deliver indemnity or performance bonds as required by the United States or the state as security or assurance for performance of or indemnity for liability under any contract made with them or either of them.
B. The operating units may at their election establish, tender and deliver collateral security in lieu of the indemnity or performance bond required. The amount or penalty of any indemnity or performance bond or pledge shall be the amount determined by the pledgee as sufficient for and proportionate to any contract undertaking involved.
C. The bond or pledge shall be in appropriate and effective form as the circumstances require. The pledge may consist of:
1. An uncommitted or unencumbered fund on hand or to be received or to be thereafter created.
2. Proceeds of any uncommitted or unencumbered district assessment.
3. Income or proceeds from any district, state agency or municipal operation not otherwise committed or encumbered.
4. Revenue bonds.
5. Real or personal property.
6. Any other valuable right or thing satisfactory to the pledgees or either of them.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 30-191
What does Arizona Revised Statutes § 30-191 cover?
Section 30-191 ("Indemnity or performance bonds as security; collateral security in lieu of bond") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 30-191?
A common citation format is "Arizona Revised Statutes § 30-191" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 30-191 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.