Requirement for a Surety Bond

Section 530 Section 530.270  Requirement for a Surety Bond Surety bonds in the amount prescribed in Section 530.280 will be required for: a)         Individual utilities whose assets are less than $500,000.  A copy of the utility's latest annual report indicating assets of at least $500,000 may be submitted in lieu of a bond. b)         Individual utilities with previously poor performance record.  Types of poor performance include a history of using inferior methods and materials, poor maintenance of utility appurtenances and failing to comply with Department directives (which have not been nullified by a court of competent jurisdiction) or conditions of other utility permits. c)         Individual utility contractors with previously poor performance record. (See subsection (b).) d)         Variances to this Part.  (See Section 530.130, "Variances".)