SENATE BILL 275

45th legislature - STATE OF NEW MEXICO - first session, 2001

INTRODUCED BY

Carroll H. Leavell







AN ACT

RELATING TO SURETYSHIP; PROHIBITING DIRECTED SURETYSHIP; PRESCRIBING A PENALTY.



BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

Section 1. DIRECTED SURETYSHIP PROHIBITED--PENALTY FOR VIOLATION.--

A. An employee of the state or its political subdivisions, or a person acting or purporting to act on behalf of that employee, shall not require a bidder or proposer in any procurement pursuant to the Procurement Code for a construction contract to make application or furnish financial data for a surety bond or obtain a surety bond from a particular surety company, insurance company, broker or agent in connection with the bid or proposal.

B. A person who violates the prohibition of Subsection A of this section is guilty of a fourth degree felony and shall be sentenced in accordance with the provisions of Section 31-18-15 NMSA 1978.

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