(a) A construction contract in any sum exceeding twenty thousand dollars ($20,000) shall not be entered into by any church, religious organization, charitable institution, or by any agency of the church, religious organization, or charitable institution, unless the contractor furnishes to the party letting the construction contract a payment bond in a sum equal to the amount of the contract.(b) If the payment bond is not furnished as required by subsection (a) of this section, any person performing labor or furnishing material, except the principal contractor, shall have the right to assert and enforce a lien upon the property for the unpaid amount of the claim under § 18-44-101 et seq.Amended by Act 2021, No. 986,§ 3, eff. 7/28/2021.Acts 1911, No. 446, § 5; C. & M. Dig., § 6916; Pope's Dig., § 8875; Acts 1953, No. 351, § 2; A.S.A. 1947, §§ 51-631, 51-633.
Arkansas Legal Code