If the state or other public body fails to get and approve a valid payment bond or securities in place of a payment bond as required by the act, the public body for which work is done under the contract is liable to all persons furnishing labor and materials under or to perform the contract for any loss resulting to them from the failure. The public body is not liable if the bond does not list the proper address of the contractor on whose behalf the bond was issued or of the surety providing the bond.
(9703) RL s 4537; 1986 c 444; 1994 c 419 s 9
Structure Minnesota Statutes
Chapters 570 - 583 — Postjudgment Remedies; Alternative Dispute Resolution; Bonds
Chapter 574 — Bonds, Fines, Forfeitures
Section 574.01 — Bonds, Requisites And Execution.
Section 574.03 — Payment Of Premium.
Section 574.04 — Surety Bonds To Federal Government.
Section 574.05 — Liberty Loan Bonds Security.
Section 574.06 — Deposit Of Securities.
Section 574.07 — Market Value.
Section 574.08 — Protection Of Pledge On Commencing Action.
Section 574.09 — Additional Security.
Section 574.10 — Notice Of Claim.
Section 574.11 — Receivers' Bonds To Run To State.
Section 574.12 — Modes Of Justification.
Section 574.13 — State And County Officers; Uniform Bond.
Section 574.14 — Bonds Executed Under Other Provisions.
Section 574.15 — Surety Companies.
Section 574.16 — Surety, Subrogation.
Section 574.17 — Sureties For Part Of Penalty.
Section 574.18 — Undertaking In Lieu Of Bond.
Section 574.19 — Cost Of Surety Bonds; Proper Expense Items.
Section 574.20 — Bonds, By Whom Approved.
Section 574.205 — Bonds; State Officials And Employees Excluded.
Section 574.21 — Place Of Filing Bonds.
Section 574.22 — Court Proceedings.
Section 574.23 — Examination Of Accounts Of Public Officers.
Section 574.24 — Official Bonds, Security To Whom; Actions.
Section 574.25 — Leave To Bring Action; Endorsement On Execution.
Section 574.26 — Contractors' Bonds For Public Work.
Section 574.261 — Public Work; Security.
Section 574.262 — Small Business.
Section 574.263 — Natural Resource Development Projects.
Section 574.264 — Natural Resource Project; Security.
Section 574.27 — Bidders To Have Right Of Action In Certain Cases.
Section 574.28 — Approval And Filing Of Bond.
Section 574.29 — Failure To Get Payment Bond.
Section 574.30 — Insolvent Or Insufficient Sureties.
Section 574.31 — Limit Of Time To Bring Action.
Section 574.32 — Application Of Payments.
Section 574.33 — Actions For Fines, Forfeitures, And Penalties; Collusion.
Section 574.34 — Fines, How Disposed Of.
Section 574.35 — Prosecution For Fines; Court; Commitment.