General Municipal Law 105 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 104-D The New York state buy American salt act up ARTICLE 5-A Public Contracts next SECTION 106 Withdrawal of retained percentages Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 105 Disposition of deposit accompanying bid General Municipal (GMU) CHAPTER 24, ARTICLE 5-A § 105. Disposition of deposit accompanying bid. Notwithstanding any inconsistent provision of any general, special or local law, whenever as a condition precedent to the reception or consideration of a bid for furnishing supplies, materials, or equipment or performing work for a political subdivision or any officer, board or agency thereof or of any district therein, a deposit of a certified check, money, bonds or other obligations is required, a person or corporation submitting a bid may withdraw the same if no award of the contract be made within forty-five days after the receipt thereof, and upon such withdrawal such deposit shall be forthwith returned. A certified check, money, bonds or other obligations or security deposited to secure a bid shall be retained under the jurisdiction and control of the chief fiscal officer or other officer of the political subdivision or district having custody of its money, until returned to the bidder or forfeited.