Bonds; procedure; condition precedent to commencing work; amount; blanket or master bonds; amount; registration of completed contracts; fee.

(c) (1) Every bond required by this Code section shall be in an amount equal to 10 percent of the contract price or of the compensation to be received by the contractor pursuant to the contract.

(2) (A) The commissioner may permit or require a contractor to file a blanket or master bond conditioned as provided in subsection (a) of this Code section and in a sum determined proper by the commissioner when:

(i) The contractor is engaged in a continuing service under multiple contracts or is performing services under a contract on a contingent or unit basis, and the contract price or compensation cannot be determined until after the performance of the contract; or

(ii) The commissioner finds that registration of a contract before commencement of work under the contract is impracticable for any reason.

(B) No bond pursuant to this paragraph shall be in an amount of less than $10,000.00 with respect to all contracts to be performed during the current calendar year.

(C) On or before March 1 in each year, the contractor shall report and register all contracts of $10,000.00 or more completed during the previous calendar year and shall pay the registration fee of $10.00 for each contract. History. Ga. L. 1961, p. 480, § 3; Code 1933, § 91A-6103, enacted by Ga. L. 1978, p. 309, § 2. Administrative rules and regulations. Contractors, Official Compilation of the Rules and Regulations of the State of Georgia, Department of Revenue, Sales and Use Tax Division, Substantive Rules and Regulations, § 560-12-2-.26. Foreign or non-resident contractors and subcontractors, Official Compilation of the Rules and Regulations of the State of Georgia, Department of Revenue, Sales and Use Tax Division, Substantive Rules and Regulations, § 560-12-2-.43. Law reviews. For article discussing legal aspects of investments and trade in Georgia by foreign business enterprises, see 27 Mercer L. Rev. 629 (1976). JUDICIAL DECISIONS Residency is a mixed question of fact and law, which is generally appropriate for the jury. Lenox Hotel Co. v. Charter Bldrs., Inc., 717 F. Supp. 1558, 1989 U.S. Dist. LEXIS 8236 (N.D. Ga. 1989). Foreign corporation may be resident contractor. — Foreign corporation is not synonymous and cannot be equated with a nonresident corporation. Therefore, simply because a contractor may be considered a foreign corporation because the foreign corporation was incorporated in Texas does not preclude a finding that the foreign corporation is a resident contractor. Lenox Hotel Co. v. Charter Bldrs., Inc., 717 F. Supp. 1558, 1989 U.S. Dist. LEXIS 8236 (N.D. Ga. 1989). Late registration. — Late registration and payment of all taxes and revenues due the state and the state’s political subdivisions constitutes substantial compliance with the requirements of the Nonresident Contractors Act, O.C.G.A. § 48-13-30 et seq., thus removing the bar to maintenance of an action on the contract. Clover Cable of Ohio, Inc. v. Heywood, 260 Ga. 341, 392 S.E.2d 855, 1990 Ga. LEXIS 266 (1990); Fuller Enters. v. Hardin Constr. Group, Inc., 206 Ga. App. 8, 424 S.E.2d 311, 1992 Ga. App. LEXIS 1554 (1992); Underground Festival, Inc. v. McAfee Eng'r Co., 214 Ga. App. 243, 447 S.E.2d 683, 1994 Ga. App. LEXIS 849 (1994), cert. denied, No. S94C1816, 1994 Ga. LEXIS 1181 (Ga. Dec. 2, 1994). Payment of taxes without registration. — Payment of accrued state and local taxes was not “substantial compliance” with the Nonresident Contractors Act, O.C.G.A. § 48-13-30 et seq., absent registration of a construction contract with the commissioner. Fuller Enters. v. Hardin Constr. Group, Inc., 206 Ga. App. 8, 424 S.E.2d 311, 1992 Ga. App. LEXIS 1554 (1992). RESEARCH REFERENCES C.J.S. 11 C.J.S., Bonds, § 7 et seq. ALR. Validity of statute or ordinance which requires liability or indemnity insurance or bond as condition of license for conducting business or profession, 120 A.L.R. 950. Building contractor’s liability, upon bond or other agreement to indemnify owner, for injury or death of third persons resulting from owner’s negligence, 27 A.L.R.3d 663. What constitutes “public work” within statute relating to contractor’s bond, 48 A.L.R.4th 1170.