408.354 - Contract awarded to railroad company may provide under certain circumstances that railroad company is exempt from requirements concerning bonds.
408.354 Contract awarded to railroad company may provide under certain circumstances that railroad company is exempt from requirements concerning bonds. If the Director awards to a railroad company a contract for a project for the construction, reconstruction, improvement or maintenance of a highway and the project is located on property that is owned by or under the control of the railroad company, the contract may provide that the railroad company is not required to file, furnish or obtain a payment bond, performance bond or any other bond that would otherwise be required pursuant to the provisions of this chapter.
(Added to NRS by 2001, 636)