Section 85-7-431 - Payment bond as substitution for subcontractor or materialmen liens

Where a contractor gives a payment bond providing payment protection to subcontractors and material suppliers to the full extent provided by the Mississippi Little Miller Act found at Section 31-5-51 or the private project bond provision at Section 85-7-432, the payment bond shall be in substitution for the liens provided for a subcontractor or materialman in this article. The contractor's right to a lien is not affected by the provision of a bond.Amended by Laws, 2019, ch. 346, HB 869,§ 2, eff. 7/1/2019.Added by Laws, 2014, ch. 487, SB 2622, 16, eff. 4/11/2014.