Section 13-10-41. Alternatives to performance bond

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When the amount of the performance bond required under this article does not exceed $300,000.00, the state may, in its sole discretion, accept an irrevocable letter of credit by a bank or savings and loan association, as defined in Code Section 7-1-4, in the amount of and in lieu of the bond otherwise required under this article.

Code 1981, § 13-10-41, enacted by Ga. L. 2001, p. 820, § 1.

                    
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