In Iowa, a new law was enacted concerning sanitary disposal project operators. The new law named SB 2276 increases the variety of financial assurance instruments that an operator of a sanitary disposal project can supply. The previous law required a surety bond, cash, or an irrevocable letter of credit. SB 2276 authorizes the operator to get hold of insurance, a corporate or a local government guarantee, or to suit a corporate financial test or a local government financial test. The project operator is also able to use a local government dedicated fund.
Eric is the Webmaster of JW Surety Bonds. With years of experience in the surety industry, he is also a contributing author to the surety bond blog.