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  • PART I ADMINISTRATION OF THE GOVERNMENT
  • TITLE III LAWS RELATING TO STATE OFFICERS
  • CHAPTER 29 STATE FINANCE
  • Section 54 Deposits or other security for proposals by bidders

Section 54. The state treasurer may require each bidder submitting a proposal under section 53, as a condition precedent to the consideration of such bidder’s proposal, to submit a good faith deposit or otherwise secure such bidder’s proposal, in such manner and amount as the state treasurer shall determine to be appropriate.