§ 8208-1. Requirement of improvement security.

Any improvement agreement, contract or act required or authorized by the Subdivision Map Act, for which security is required by the Subdivision Map Act or this Chapter, shall be secured in the manner and amounts provided in the Subdivision Map Act and this Article. An improvement security shall be posted both to secure the faithful performance of each improvement agreement and to secure payment by the subdivider to the contractor and his subcontractors and to persons renting equipment or furnishing labor or materials to them in connection with the performance of such improvement agreement.