60-2-113. Bidder's security -- contractor's bond. (1) (a) Subject to subsection (1)(b), whenever the commission calls for competitive bidding, each bidder shall meet all requirements of Title 18, chapter 1, part 2.

(b) The commission may accept electronic bid bonds signed electronically or otherwise verified by the bidder and the surety.

(2) Each contractor awarded a contract by the commission shall meet all requirements set forth in Title 18, chapter 2, part 2. A contract is not considered to be completed until the commission, while formally convened, affirmatively accepts all of the work specified in the contract.