Indiana § 5-16-5.5-6 Payment of contractor; uncompleted minor items

Indiana Statutes

§ 5-16-5.5-6 — Payment of contractor; uncompleted minor items

Indiana § 5-16-5.5-6

Title 5STATE AND LOCAL ADMINISTRATION

Art. 16PUBLIC WORKS

Ch. 5.5Retainage, Bonds, and Payment of Contractors and

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Bluebook

Ind. Code § 5-16-5.5-6 (2026).

Text

The contractor shall be paid in full including
all escrowed principal and escrowed income by the state agency and
escrow agent within sixty-one (61) days following the date of
substantial completion, subject to IC 5-16-5. If at that time there are
any remaining uncompleted minor items, an amount equal to two
hundred percent (200%) of the value of each item as determined by the
architect-engineer shall be withheld until said item or items are
completed.
Formerly: Acts 1972, P.L.44, SEC.1. As amended by
P.L.86-2018, SEC.20.

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The contractor shall be paid in full including
all escrowed principal and escrowed income by the state agency and
escrow agent within sixty-one (61) days following the date of
substantial completion, subject to IC 5-16-5. If at that time there are
any remaining uncompleted minor items, an amount equal to two
hundred percent (200%) of the value of each item as determined by the
architect-engineer shall be withheld until said item or items are
completed.
Formerly: Acts 1972, P.L.44, SEC.1. As amended by
P.L.86-2018, SEC.20.