Sec. 2. To the extent that this chapter is applicable, all contracts between a contractor and a state agency concerning any public building, work, or improvement entered into after May 1, 1972, and which contracts are in excess of two hundred thousand dollars ($200,000) are to be governed by the provisions of this chapter, as are the rights and duties among the parties to the contract and any subcontractors who do any work under the contract. A state agency may elect to have a contract that is for not more than two hundred thousand dollars ($200,000) be governed by this chapter. All contracts governed by the provisions of this chapter shall include provisions for the retainage of portions of payments by a state agency to contractors, by contractors to subcontractors, and for the payment of subcontractors.
Formerly: Acts 1972, P.L.44, SEC.1. As amended by P.L.25-1986, SEC.91; P.L.133-2007, SEC.6.
Structure Indiana Code
Title 5. State and Local Administration
Chapter 5.5. Retainage, Bonds, and Payment of Contractors and Subcontractors
5-16-5.5-0.1. Application of Certain Amendments to Chapter
5-16-5.5-2. Contracts Governed by This Chapter
5-16-5.5-3. Retainage; Escrow Agreement
5-16-5.5-3.1. Escrow Accounts; Establishment and Maintenance; Fee; Schedule
5-16-5.5-3.5. Retainage; Options to Determine Amount
5-16-5.5-5. Payment of Subcontractor; Certification of Receipt
5-16-5.5-6. Payment of Contractor; Uncompleted Minor Items