Under existing law, an applicant for a contractor's license and a licensed contractor are required to obtain certain bonds in certain circumstances. Existing law requires such bonds to be provided by a person whose long-term debt obligations are rated “A” or better by a nationally recognized rating agency. (NRS 624.270, 624.276) Sections 1 and 2 of this bill revise this requirement to require that such bonds must be provided by a person who is identified in certain publications issued by the United States Department of the Treasury as holding certain certificates.

Statutes affected:
As Introduced: 624.270, 624.276
BDR: 624.270, 624.276