A bill to provide for payment of losses by the Small Business Administration directly to the obligee of a bid bond, performance bond, or payment bond in the event of insolvency or bankruptcy of the surety company.

referredUnited States· United States Congress· EN

Introduced

10 January 1977

Last action

—

Status

Referred to Senate Select Committee on Small Business.

Summary

Amends the Small Business Investment Act of 1958 to direct the Small Business Administration to pay the obligee of a bid bond, performance bond, or payment bond whatever sum would have been payable to the surety under the Administration's surety bond guarantee program in the event of the insolvency or bankruptcy of the surety company.

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Documents

1 official file

Introduced in Senate
summary · EN · 10 January 1977
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/95th-congress/senate-bill/26
Open data entity: https://api.congress.gov/v3/bill/95/s/26