Ill. Admin. Code tit. 71 § 41.115

Current through Register Vol. 48, No. 45, November 8, 2024

Section 41.115 - Fidelity Bond

CDB may require a grantee to obtain a fidelity bond in the amount of 125% of the grant amount. In making the determination whether a bond shall be required, CDB shall consider one or more of, but will not be limited to, the following:

a) The size of the grant;

b) The nature of the project;

c) Whether the grantee is a unit of government or a private entity; or

d) The grantee's past experience in similar projects or financial matters.

Ill. Admin. Code tit. 71, § 41.115