North Carolina Traffic Calming Device Bond

North CarolinaNorth Carolina implemented a new bill affecting state maintained streets and the homeowners association within the state. The new bill is named HB 182 and provides for the installation of traffic calming devices on State maintained roads in subdivisions with a homeowners association and districts where all property owners have instituted a contract for traffic tables or calming devices installed in the neighborhood. HB 182 requires the homeowners association or the district/neighborhood to acquire a performance bond with the Department of Transportation that is adequate to fund the maintenance or elimination of the traffic tables and calming devices, if the homeowners association, or district failed to preserve them. The surety bond must be active for three years from the time of installation of the devices or tables.