South Dakota Codified Laws > Title 5 > Chapter 21 – Performance Bonds for Public Improvement Contracts


§ 5-21-1	Surety bond required–Obligation of prompt payment of laborers and materialmen
§ 5-21-1.1	Waiver of performance security requirement on contracts under certain amount
§ 5-21-1.3	Waiver of performance security requirement for emergency procurement
§ 5-21-2	Public corporation’s civil liability for failure to require bond for protection of laborersand materialmen
§ 5-21-3	Surety bond to cover use tax liability–Amount of liability
§ 5-21-4	Notice of surety bond to secretary of revenue–Termination of surety’s liability for useand excise tax
§ 5-21-5	Laborers’ and materialmen’s right to intervene in action against public contractor–Prorata distribution if surety’s liability insufficient
§ 5-21-6	Action by laborer or materialman on public contractor’s bond–Limitation of action–Intervention by other claimants–Costs
§ 5-21-7	Pro rata distribution among claimants if bond insufficient–Surety relieved fromliability by payment into court
§ 5-21-8	Personal and public notice to creditors of action on public contractor’s bond

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Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
Contract: A legal written agreement that becomes binding when signed.
Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
written: include typewriting and typewritten, printing and printed, except in the case of signatures, and where the words are used by way of contrast to typewriting and printing. See South Dakota Codified Laws 2-14-2