Legislation
- Title
- Real Property - Construction Contracts - Retention Proceeds
- Sponsored by
- Delegate Adams
- Status
- Approved by the Governor - Chapter 382
- Analysis
- Fiscal and Policy Note (Revised)
Synopsis
Establishing that a certain remedy for the payment of an undisputed amount owed under a construction contract applies to certain retention proceeds; reducing from $250,000 to $100,000 the minimum contract amount for the purpose of the applicability of certain provisions of law relating to retention proceeds; and requiring undisputed retention proceeds retained by an owner be paid within 90 days after the date of substantial completion.
Committees
- Original:
- Economic Matters Click to view Recorded Media
Details
Introduced in a prior session as: HB1627 Session: 2018 Regular Session
Bill File Type: Regular
Effective Date(s): October 1, 2019
History
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File Code
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Subjects
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Statutes
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(
9-303, 9-304 )
Last Updated: 2/3/2020 2:31 PM