Indiana § 5-32-6-2 - CMc performance bond
Full text of Indiana Indiana Code § 5-32-6-2 — CMc performance bond, with citation guidance and answers to common questions.
§ 5-32-6-2. CMc performance bond
Sec. 2. (a) The CMc shall furnish proof of its ability to obtain a valid performance bond that is acceptable to the public agency in an amount equal to the GMP, if established, or the proposed construction cost.
(b) The CMc shall furnish the bond at the time of an early release construction package or when the GMP is determined and provided to the public agency.
(c) If the bond is acceptable to the public agency, the performance bond may provide for incremental bonding in the form of multiple or chronological bonds that, when taken as a whole, equal the GMP, if established, or the proposed construction cost. The surety on the bond shall not be released for a period of one (1) year after final settlement with the CMc. A change, modification, omission, or addition in and to the terms or conditions of the contract, plans, specifications, drawings, or profile or any irregularity or defect in the contract or in the proceedings preliminary to the letting and awarding of the CMc contract does not in any way affect or operate to release or discharge the surety.
As added by P.L.128-2014, SEC.1.
IC 5-33ARTICLE 33. INDIANA DESTINATION DEVELOPMENT CORPORATION
Ch. 1.Applicability Ch. 2.Definitions Ch. 3.Indiana Destination Development Corporation Ch. 4.Indiana Destination Development Corporation Board Ch. 5.General Powers Ch. 6.Tourism Information and Promotion Fund Ch. 6.5.Statewide Sports and Tourism Bid Fund
IC 5-33-1Chapter 1. Applicability
5-33-1-1Applicability
Frequently Asked Questions About Indiana § 5-32-6-2
What does Indiana Code § 5-32-6-2 cover?
Section 5-32-6-2 ("CMc performance bond") is part of the Indiana Code, the codified statutory law of Indiana. 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 Indiana § 5-32-6-2?
A common citation format is "Indiana Code § 5-32-6-2" (Indiana). 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 Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 5-32-6-2 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana 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 Indiana.