Iowa § 12.44 - 12.44 Iowa satisfaction and performance bond program.
Full text of Iowa Iowa Code § 12.44 — 12.44 Iowa satisfaction and performance bond program., with citation guidance and answers to common questions.
§ 12.44. 12.44 Iowa satisfaction and performance bond program.
1. Agencies of state government shall be required to waive the requirement of satisfaction, performance, surety, or bid bonds for targeted small businesses which are able to demonstrate the inability of securing such a bond because of a lack of experience, lack of net worth, or lack of capital. This waiver shall not apply to businesses with a record of repeated failure of substantial performance or material breach of contract in prior circumstances. The waiver shall be applied only to a project or individual transaction amounting to fifty thousand dollars or less, notwithstanding section 573.2. In order to qualify, the targeted small business shall provide written evidence to the economic development authority that the bond would otherwise be denied the business. The granting of the waiver shall in no way relieve the business from its contractual obligations and shall not preclude the state agency from pursuing any remedies under law upon default or breach of contract. 2. The economic development authority shall certify targeted small businesses for eligibility and participation in this program and shall make this information available to other state agencies. 3. Subdivisions of state government may also grant such a waiver under similar circumstances. 87 Acts, ch 233, §129; 88 Acts, ch 1273, §5; 90 Acts, ch 1156, §1; 92 Acts, ch 1244, §10; 2017 Acts, ch 54, §76; 2017 Acts, ch 160, §5 Referred to in §573.2 Wed Dec 10 21:58:05 2025 Iowa Code 2026, Section 12.44 (29, 0)
Frequently Asked Questions About Iowa § 12.44
What does Iowa Code § 12.44 cover?
Section 12.44 ("12.44 Iowa satisfaction and performance bond program.") is part of the Iowa Code, the codified statutory law of Iowa. 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 Iowa § 12.44?
A common citation format is "Iowa Code § 12.44" (Iowa). 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 Iowa law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Iowa official source linked on this page or consult a licensed Iowa attorney.
How does Iowa § 12.44 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Iowa 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 Iowa.