SB327 revises requirements for contractor bonds and deposits in Nevada.

SB327 amends Nevada law to revise the requirements for bonds and cash deposits for contractors. Contractors must now obtain a bond or establish a cash deposit for work on residential pools or spas. The bond or deposit must be in favor of the state for the benefit of any consumer damaged by the contractor's failure to perform or by unlawful acts. The bond amount is determined by the contractor's financial responsibility and operation size, with a minimum of $1,000.

SB327 revises requirements for contractor bonds and deposits in Nevada.

SB327 amends Nevada law to revise the requirements for bonds and cash deposits for contractors. Contractors must now obtain a bond or establish a cash deposit for work on residential pools or spas. The bond or deposit must be in favor of the state for the benefit of any consumer damaged by the contractor's failure to perform or by unlawful acts. The bond amount is determined by the contractor's financial responsibility and operation size, with a minimum of $1,000.