
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 14USC667]

 
                          TITLE 14--COAST GUARD
 
                       PART I--REGULAR COAST GUARD
 
                       CHAPTER 17--ADMINISTRATION
 
Sec. 667. Vessel construction bonding requirements

    The Secretary or the Commandant may require bid, payment, 
performance, payment and performance, or completion bonds or other 
financial instruments from contractors for construction, alteration, 
repair, or maintenance of Coast Guard vessels if--
        (1) the bond is required by law; or
        (2) the Secretary or Commandant determines after investigation 
    that the amount of the bond in excess of 20 percent of the value of 
    the base contract quantity excluding options, would not prevent a 
    responsible bidder or offeror from competing for award of the 
    contract.

(Added Pub. L. 101-595, title III, Sec. 306(a), Nov. 16, 1990, 104 Stat. 
2985.)
