Texas Transportation Code

§ 223.016 — FORM OF PROPOSAL GUARANTY

TN § 223.016Title 6. ROADWAYS · Part B. STATE HIGHWAY SYSTEM · Ch. 223. BIDS AND CONTRACTS FOR HIGHWAY PROJECTS · Art. A. COMPETITIVE BIDS

Statute text

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If the department by rule requires a proposal guaranty as a condition of bidding for a contract, the guaranty may be in the form of:

(1)a cashier's check or money order drawn on a financial entity specified by the department; or

(2)a bid bond issued by a surety authorized to do business in this state; or

(3)any other method determined to be suitable by the department.

Legislative history

Added by Acts 2001, 77th Leg., ch. 833, Sec. 1, eff. Jan. 1, 2002. Renumbered from Transportation Code Sec. 223.014 by Acts 2003, 78th Leg., ch. 1275, Sec. 2(126), eff. Sept. 1, 2003.