MS SB2750

Creates Section 85-7-432 to regulate private project construction bonds, requiring contractors to provide performance and payment bonds with surety companies authorized in Mississippi.

Allows workers and material suppliers unpaid after 90 days to sue on payment bonds and collect owed amounts, subject to contractual conditions and approval requirements.

Requires subcontractors and material suppliers without direct contracts to provide written notice to the contractor within 90 days of last work/supply to maintain right of action on payment bond.

Establishes one-year statute of limitations for performance bond claims (from final payment or project abandonment) and payment bond claims (from last labor performed or material supplied).

Requires owners and contractors to provide copies of contracts and bonds within 30 days of written request, with failure resulting in liability for reasonable attorney's fees and costs; allows trial judges to award attorney's fees when defenses are unreasonable or made in bad faith.