P.R. Laws tit. 3, § 8971
2019-02-20 00:00:00+00
As a condition to execute an energy savings performance contract, the qualified energy savings company shall provide evidence of having posted a performance bond in favor of the government unit. The bond shall be issued by an underwriter authorized by the Insurance Commissioner to do business in this jurisdiction that has, at the very least, a B+ rating as published by A.M. Best. The bond shall have the purpose of guaranteeing energy savings measures and contractual representations made by the qualified energy savings company as agreed under the energy savings performance contract.
History —Jan. 17, 2012, No. 19, § 2.10.