Utah Code 63B-11-513. Certification of satisfaction of conditions precedent — Conclusiveness
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(1) The commission may not issue any bond under this chapter until it finds and certifies that all conditions precedent to issuance of the bonds have been satisfied.
Terms Used In Utah Code 63B-11-513
- Commission: means the State Bonding Commission created in Section 63B-1-201. See Utah Code 63B-1-101
- Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
(2) A recital on any bond of this finding and certification conclusively establishes the completion and satisfaction of all such conditions.