MO HB647

Repeals and replaces section 107.170, RSMo, relating to security requirements for public works contracts.

Requires all public entities to obtain bonds from contractors for public works projects exceeding $25,000, covering materials, insurance premiums, and labor costs.

Allows public entities to elect an alternative to bonding for contracts exceeding $25,000 but less than $500,000 by contracting with a title insurer, agency, or agent authorized as an escrow agent to receive and disburse funds.

Protects school board members from liability for relying on a contractor's representations about a bonding company's solvency, except in cases of actual knowledge of insolvency or bad faith.

Permits public entities to indemnify their officers and employees against claims arising from performance of duties under this section, except in cases of malfeasance or willful neglect.