Section 55-11-3.1 - Clause required in contract not providing guaranteed price.
55-11-3.1. Clause required in contract not providing guaranteed price. In addition to the requirements of § 55-11-3, any contract entered into pursuant to § 55-11-1, which does not provide for a guaranteed price for services or personal property to be delivered or performed pursuant to the terms of the contract, shall contain the following in twelve point bold type:
ANY FUNDS PAID UNDER THIS CONTRACT ARE ONLY A DEPOSIT TO BE APPLIED TOWARD THE FINAL COSTS OF THE SERVICES OR PERSONAL PROPERTY CONTRACTED FOR. ADDITIONAL CHARGES MAY BE REQUIRED.
Source: SL 1981, ch 355, § 4.