North Carolina S685 authorizes maintenance and acceptance guarantees for subdivision streets to ensure proper maintenance and compliance.
North Carolina S685 amends Chapter 160D of the General Statutes to implement maintenance and acceptance guarantees for subdivision developments. This bill requires developers to post a maintenance and acceptance guarantee for publicly dedicated roadways to be transferred for public maintenance. The guarantee can be in the form of a surety bond, letter of credit, or other equivalent security. The amount of the guarantee is set by the county but cannot exceed 20% of the estimated total cost of construction.
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