LAC 46:XXIX.705. Failure to Insure or Bond [Formerly §1111]

A. Any person required to be licensed by the board that bids a project requiring a bid bond, the posting of a bond for the project, or certificates of insurance evidencing mandated coverage and fails to provide such valid bonds or coverage when due shall be in violation of this Act and these rules and regulations. B. Upon being awarded a bid, the person licensed shall not cancel, or otherwise fail to maintain the required insurance coverage or bonding as required in the bid proposal. C. Any person who violates the provisions of this Section may be subject to disciplinary action by the board including suspension and revocation of the contractor’s licenses, and fines and administrative costs.