[Previous] [Next]

§61-2.


§61-2.
   
   A. Bonds shall be filed in the office of the agency, institution,
   department, commission, municipality or government instrumentality
   that is authorized by law and does enter into contracts for the
   construction of public improvements or buildings, or repairs to the
   same; and the officer with whom the bond is filed shall furnish a copy
   thereof to any person claiming any rights thereunder. Any person to
   whom there is due any sum for labor, material or repair to machinery
   or equipment, furnished as stated in Section 1 of this title, the
   heirs or assigns of such person, may bring an action on the bond for
   the recovery of the indebtedness, provided that no action shall be
   brought on the bond after one (1) year from the day on which the last
   of the labor was performed or material or parts furnished for which
   the claim is made.
   
   B. Any person having direct contractual relationship with a
   subcontractor performing work on the contract, but no contractual
   relationship express or implied with the contractor furnishing the
   payment bond, shall have a right of action upon the payment bond only
   upon giving written notice to the contractor and surety on the payment
   bond within ninety (90) days from the date on which such person did or
   performed the last of the labor or furnished or supplied the last of
   the material or parts for which the claim is made, stating with
   substantial accuracy the amount claimed and the name of the party to
   whom the material or parts were furnished or supplied or for whom the
   labor was done or performed. The notice shall be served by mailing the
   same by registered or certified mail, postage prepaid, in an envelope
   addressed to the contractor at any place the contractor maintains an
   office or conducts business, together with a copy thereof to the
   surety or sureties on the payment bond.
   
   C. 1. The bond or irrevocable letter of credit issued to the Oklahoma
   Department of Transportation or the Oklahoma Turnpike Authority,
   pursuant to this section, shall also provide that the contractor shall
   pay all state and local taxes accruing as a result of the contract,
   any liquidated damages as provided by the contract and any overpayment
   of progressive estimates resulting in a balance due and owing the
   Oklahoma Department of Transportation or the Oklahoma Turnpike
   Authority.
   
   2. A claim against the bond or irrevocable letter of credit for
   delinquent taxes shall be made by the public entity to which the tax
   was payable. The claim shall be made within six (6) months from the
   date on which the tax became delinquent. Notice of the delinquent tax
   shall be sent by certified mail to the surety, and a copy of the
   notice shall be sent to the contractor. Nothing in this paragraph
   shall be construed to release, at any time, the contractor from
   responsibility for full payment of all taxes.
   
   3. A claim against the bond or irrevocable letter of credit for
   overpayment on progressive estimates shall be made by the public
   entity within one (1) year from the date of final acceptance of the
   project. Notice of the overpayment shall be sent by certified mail to
   the surety and a copy of the notice shall be sent to the contractor.
   Nothing in this paragraph shall be construed as to release, at any
   time, the contractor from the responsibility of refunding any amount
   overpaid on progressive estimates which are due and owing the Oklahoma
   Department of Transportation.
   

[Previous] [Next]