SOUTH CAROLINA—S1026—CONTRACTOR PAYMENT BONDS

Effective 6-6-14 South Carolina law, signed by Governor on June 6, 2014, relating to building contractor payment bonds.

In addition to outlining the methods for serving a notice of furnishing under 29-5-20(B), this legislation provides that the payment bond surety for the bonded contractor must have the same rights and defenses of the bonded contractor. The statute applies to any payment bond, whether statutory, public, common law, or private in nature. Click here for legislation

 

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