Minnesota § 574.30 - INSOLVENT OR INSUFFICIENT SURETIES
Full text of Minnesota Minnesota Statutes § 574.30 — INSOLVENT OR INSUFFICIENT SURETIES, with citation guidance and answers to common questions.
§ 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 ten days; and thereupon, if so ordered by the public body, all work on the contract must cease until the new or additional bonds are furnished. If the bonds are not furnished within the ten days, the public body may, at its option, terminate the contract and complete the same as the agent, and at the expense of the contractor and its sureties.
History:
(9704) RL s 4538; 1986 c 444; 1994 c 419 s 10; 1995 c 31 s 4
Official Publication of the State of Minnesota
Revisor of Statutes
Source: official Minnesota text · Last verified 2026-08-27
Frequently Asked Questions About Minnesota § 574.30
What does Minnesota Statutes § 574.30 cover?
Section 574.30 ("INSOLVENT OR INSUFFICIENT SURETIES") is part of the Minnesota Statutes, the codified statutory law of Minnesota. 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 Minnesota § 574.30?
A common citation format is "Minnesota Statutes § 574.30" (Minnesota). 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 Minnesota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Minnesota official source linked on this page or consult a licensed Minnesota attorney.
How does Minnesota § 574.30 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Minnesota 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 Minnesota.