Effective - 28 Aug 2002
436.303. Contract provisions — retainage. — A contract or agreement may include a provision for the retainage of a portion of any payment due from the owner to the contractor, not to exceed ten percent of the amount of such payment due pursuant to the contract or agreement, to ensure the proper performance of the contract or agreement, provided that the contract may provide that if the contractor's performance is not in accordance with the terms of the contract or agreement, the owner may retain additional sums to protect the owner's interest in satisfactory performance of the contract or agreement. The amount or amounts so retained by the owner shall be referred to in sections 436.300 to 436.336 as "retainage", and shall be held by the owner in trust for the benefit of the contractor and contractor's subcontractors, sub-subcontractors, and suppliers at whatever tier who are not in default, in proportion to their respective interests. Such retainage shall be subject to the conditions and limitations listed in sections 436.300 to 436.336.
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(L. 2002 H.B. 1403)
Structure Missouri Revised Statutes
Title XXVIII - Contracts and Contractual Relations
Chapter 436 - Special Purpose Contracts
Section 436.100 - Definitions.
Section 436.103 - Action for damages or injunction, jurisdiction.
Section 436.105 - Franchisor to have registered agent on file in office of secretary of state.
Section 436.150 - Definitions.
Section 436.157 - Contract for payment of royalties must be in writing, content.
Section 436.159 - Prohibited acts by performing rights society, exception — violations — penalties.
Section 436.163 - Laws applicable only to performing rights societies.
Section 436.215 - Citation of law.
Section 436.218 - Definitions.
Section 436.221 - Director's authority.
Section 436.233 - Sanctioning of certificate of registration, when — complaint procedure.
Section 436.236 - Temporary certificate of registration permitted, when.
Section 436.239 - Application fee — athlete agent fund created — rulemaking authority.
Section 436.248 - Cancellation of contract, when.
Section 436.251 - Records to be retained.
Section 436.254 - Prohibited acts.
Section 436.263 - Violations, penalties.
Section 436.266 - Uniformity considered in applying law.
Section 436.272 - Moneys collected for certain violations to be transferred to general revenue.
Section 436.300 - Private construction work contract payment requirements.
Section 436.303 - Contract provisions — retainage.
Section 436.306 - Security tendered, when.
Section 436.309 - Subcontractor may tender substitute security, when.
Section 436.312 - Substitute security requirements.
Section 436.315 - Withholding of retainage prohibited, when.
Section 436.318 - Release of retainage, payment made.
Section 436.321 - Adjustment in retainage, when.
Section 436.324 - Release of retainage, when.
Section 436.327 - Substantial completion defined.
Section 436.330 - Subcontractor obligations.
Section 436.333 - Unenforceability of contracts entered into after August 28, 2002.
Section 436.336 - Applicability.
Section 436.350 - Definitions.
Section 436.353 - Notice of offer to cure defects by contractor, contents — effect on court actions.
Section 436.362 - Mediation requirements.
Section 436.365 - Law not to restrict or inhibit other remedies or ability to contract.
Section 436.400 - Citation of law — applicability.
Section 436.405 - Definitions.
Section 436.410 - Applicability exceptions.
Section 436.412 - Violations, disciplinary actions authorized — governing law for contracts.
Section 436.415 - Provision of certain services required by provider — seller's duties.
Section 436.430 - Trust-funded preneed contract requirements.
Section 436.440 - Provisions applicable to all preneed trusts.
Section 436.445 - Trustee not to make decisions, when.
Section 436.450 - Insurance-funded preneed contract requirements.
Section 436.455 - Joint account-funded preneed contract requirements.
Section 436.456 - Cancellation of contract, when, procedure.
Section 436.457 - Seller's right to cancel, when, procedure.
Section 436.458 - Alternative provider permitted, when.
Section 436.460 - Seller report to board required, contents — fee — filing of reports.
Section 436.465 - Record-keeping requirements of seller.
Section 436.470 - Complaint procedure — violation, attorney general may file court action.
Section 436.480 - Death or incapacity of purchaser, transfer of rights and remedies, to whom.
Section 436.485 - Violations, penalties.
Section 436.490 - Sale of business assets of provider — report to board required, contents.
Section 436.500 - Sale of business assets by seller, report to board required, contents.
Section 436.505 - Credit life insurance may be offered to purchaser.
Section 436.510 - Seller's failure to make timely payment, effect of — rights of purchaser.