The awarding public agency is authorized to require the contractor to carry builder's risk insurance against damage from fire and the elements during the process of construction to the extent of protecting said public agency's equity in said project until accepted by said agency.
Added by Laws 1974, c. 298, § 28, operative Aug. 1, 1974. Amended by Laws 2002, c. 294, § 23, eff. Nov. 1, 2002.