Colorado § 24-91-108 Retained payments - amount deducted by a public entity

Colorado Statutes

§ 24-91-108 — Retained payments - amount deducted by a public entity

Colorado·Title 24 Government·Art. Construction Contracts with Public Entities

Any
amount deducted by a public entity, pursuant to law or the terms of a contract,
from the retained payments otherwise due to the contractor thereunder shall be
deducted first from that portion of the retained payments for which no acceptable
securities have been substituted and then from the proceeds of any deposited
acceptable securities, in which case, the contractor shall be entitled to receive the
interest, coupons, or income only from those acceptable securities which remain on
deposit after such amount has been deducted.

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Any
amount deducted by a public entity, pursuant to law or the terms of a contract,
from the retained payments otherwise due to the contractor thereunder shall be
deducted first from that portion of the retained payments for which no acceptable
securities have been substituted and then from the proceeds of any deposited
acceptable securities, in which case, the contractor shall be entitled to receive the
interest, coupons, or income only from those acceptable securities which remain on
deposit after such amount has been deducted.

Colorado § 24-91-108 (Retained payments - amount deducted by a public entity) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.