Regulations of Connecticut State Agencies
(a) Commissioner means the Commissioner of Economic Development.
(b) Department means the Department of Economic Development.
(c) Small Contractor means a contractor or subcontractor who has been engaged in construction, manufacturing or services, and who has been doing business in Connecticut and maintained his principle place of business in Connecticut for a period of not less than one year prior to the date of the Surety Bond Guarantee application, and whose gross revenues for the most recently completed fiscal year did not exceed the amount specified in subsection (2) of Section 32-49 of the General Statutes.
(d) "Surety Bond Guarantee" means a Guarantee by the State pursuant to Section 32-49 of the General Statutes, as administered by the Department, of a Surety against loss as the result of the breach of the terms of a Bid Bond, Performance Bond or Payment Bond.
(Effective May 28, 1985)