Iowa Code § 573.4
Deposit in lieu of bond
Iowa · Iowa Code Chapter 573 — Labor and Material on Public Improvements · Status: effective
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- Citation
- Iowa Code § 573.4, Deposit in lieu of bond, Iowa, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2274160
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Full text
A deposit of money, a certified check on a solvent bank of the county in which the improvement is to be located, a credit union certified share draft, state or federal bonds, bonds issued by a city, school corporation, or county of this state, or bonds issued on behalf of a drainage or highway paving district of this state may be received in an amount equal to the amount of the bond and held in lieu of a surety on the bond, and when so received the securities shall be held on the terms and conditions applicable to a surety.