28-2-2110. Limit on retainage. (1) The maximum retainage applied to construction contracts subject to the provisions of this part may not exceed 5%.
(2) The retainage percentage withheld by an owner, as provided in subsection (1), from a construction contractor is the maximum retainage that a construction contractor may withhold from a subcontractor.
(3) Retainage must be released upon the final acceptance of each portion of work for which a separate price is stated in the construction contract.
History: En. Sec. 1, Ch. 364, L. 2001; amd. Sec. 2, Ch. 244, L. 2005.
Structure Montana Code Annotated
Title 28. Contracts and Other Obligations
Part 21. Payment of Construction Contractors and Subcontractors
28-2-2102. Performance entitles contractor or subcontractor to payment
28-2-2103. Payment to contractor and subcontractor
28-2-2104. Obligations upon delay of payment
28-2-2105. Prevailing party entitled to costs and attorney fees
28-2-2106. Remedies not exclusive
28-2-2107. Exception for certain residential dwellings
28-2-2108. and 28-2-2109 reserved
28-2-2111. Construction contract indemnification provisions
28-2-2112. through 28-2-2114 reserved
28-2-2115. Alternative billing cycle