La. Admin. Code tit. 46 § XXIX-705

Current through Register Vol. 50, No. 9, September 20, 2024

Section XXIX-705 - Failure to Insure or Bond

A. Any person required to be licensed by the board that bids a project requiring a bid bond, the posting of a bond for the project, or certificates of insurance evidencing mandated coverage and fails to provide such valid bonds or coverage when due shall be in violation of this Act and these rules and regulations.

B. Upon being awarded a bid, the person licensed shall not cancel, or otherwise fail to maintain the required insurance coverage or bonding as required in the bid proposal.

C. Any person who violates the provisions of this Section may be subject to disciplinary action by the board including suspension and revocation of the contractor's licenses, and fines and administrative costs.

La. Admin. Code tit. 46, § XXIX-705

Adopted by the Department of Commerce, Licensing Board for Contractors, November 1974, amended and promulgated LR 8:137 (March 1982), amended by the Department of Economic Development, Licensing Board for Contractors, LR 19:1128 (September 1993), amended by the Office of the Governor, Licensing Board for Contractors, LR 38:155 (January 2012), LR 442151 (12/1/2018), Amended LR 491928 (11/1/2023).

AUTHORITY NOTE: Promulgated in accordance with R.S. 37:2150-2165.