1. If a subcontractor makes payment to his or her subcontractor or supplier more than 10 days after the occurrence of any of the following acts or omissions:
(a) The subcontractor fails to pay his or her subcontractor or supplier in accordance with the provisions of subsection 1 of NRS 338.590;
(b) The subcontractor fails to give his or her subcontractor or supplier the written notice of any withholding as required by subsections 2 and 3 of NRS 338.600; or
(c) The subcontractor receives a written notice of the correction of a condition set forth pursuant to subsection 4 of NRS 338.600 as the reason for the withholding from his or her subcontractor or supplier, signed by an authorized agent of the subcontractor or supplier, and fails to:
(1) Pay the amount of the progress payment or retainage payment that was withheld from his or her subcontractor or supplier within 10 days after the subcontractor receives the subcontractor’s or supplier’s next progress bill or retainage bill; or
(2) Object to the scope and manner of the correction, within 10 days after receiving the written notice of correction, in a written statement that sets forth the reason for the objection, signed by an authorized agent of the subcontractor,
the subcontractor shall pay to his or her subcontractor or supplier, in addition to the entire amount of the progress bill or the retainage bill or any unpaid portion thereof, interest from the 10th day on the amount delayed, at a rate equal to the lowest daily prime rate at the three largest banks or other financial institutions of the United States on the date the contract was executed plus 2 percent, until payment is made to his or her subcontractor or supplier.
2. If the subcontractor objects pursuant to subparagraph (2) of paragraph (c) of subsection 1, the subcontractor shall pay to his or her subcontractor or supplier an amount that is equal to the value of the corrections to which the subcontractor does not object.
(Added to NRS by 1999, 1988)
Structure Nevada Revised Statutes
NRS 338.0116 - Legislative findings and declarations.
NRS 338.012 - Regulations of Labor Commissioner.
NRS 338.015 - Enforcement by Labor Commissioner and Attorney General.
NRS 338.025 - Prevailing wage regions.
NRS 338.030 - Procedure for determination of prevailing wage in region; duration of rates.
NRS 338.040 - Workers deemed to be employed on public works; regulations.
NRS 338.050 - Contractual relationships: Applicability of NRS 338.010 to 338.090, inclusive.
NRS 338.072 - Requirement for subcontractor to hold state business license.
NRS 338.130 - Preferential employment in construction of public works.
NRS 338.1376 - State public works: Qualification of subcontractors; disqualification; appeal.
NRS 338.1377 - Local government public works: Adoption of criteria for qualification of bidders.
NRS 338.1382 - Local government public works: Alternative procedure for qualification of bidders.
NRS 338.13842 - "Local business" defined.
NRS 338.13843 - "Veteran with a service-connected disability" defined.
NRS 338.13844 - Amount of preferences.
NRS 338.13845 - Fraudulent acts.
NRS 338.13846 - Duty of State Public Works Division to report to Legislature.
NRS 338.13862 - Requirements for awarding contract for smaller public work to contractor.
NRS 338.139 - Awarding of contract to specialty contractor: Conditions.
NRS 338.148 - Awarding of contract to specialty contractor: Conditions.
NRS 338.155 - Provisions relating to design professional who is not member of design-build team.
NRS 338.1581 - "Concession" defined.
NRS 338.1582 - "Private partner" defined.
NRS 338.1583 - "Public-private partnership" defined.
NRS 338.1584 - "Transportation facility" defined.
NRS 338.1585 - "User fee" defined.
NRS 338.1587 - Public-private partnership: Authority to enter; authorized provisions.
NRS 338.1589 - Alternative methods: Authorization.
NRS 338.159 - Alternative methods: Submission of request to public body; contents of request.
NRS 338.1591 - Alternative methods: Request for submission of proposals by public body.
NRS 338.1598 - Contract for services under alternative methods.
NRS 338.1599 - Federal, state or local assistance.
NRS 338.1601 - Eminent domain.
NRS 338.1602 - Applicability of state and federal laws.
NRS 338.161 - "Transportation facility" defined.
NRS 338.162 - Alternative methods of authorization.
NRS 338.163 - Submission of request to public body; contents of request.
NRS 338.164 - Request for submission of proposals by public body.
NRS 338.167 - Contract for transportation services.
NRS 338.168 - Federal, state or local assistance.
NRS 338.1685 - Declaration of legislative intent.
NRS 338.1691 - Qualifications for construction manager at risk.
NRS 338.1715 - Procedure for selecting design-build team.
NRS 338.1718 - Contract with construction manager as agent.
NRS 338.1721 - Qualifications of design-build team.
NRS 338.1723 - Advertisement for preliminary proposals.
NRS 338.193 - Standards for plumbing fixtures.
NRS 338.415 - "Progress bill" defined.
NRS 338.420 - "Progress payment" defined.
NRS 338.425 - "Retainage" defined.
NRS 338.430 - "Retainage bill" defined.
NRS 338.435 - "Retainage payment" defined.
NRS 338.455 - Methods to be used for providing notice.
NRS 338.460 - Period for accrual of interest on retainage.
NRS 338.480 - Provisions inapplicable to certain contracts made by Department of Transportation.
NRS 338.510 - Submittal of progress bills.
NRS 338.530 - Payment of interest on amounts withheld improperly.
NRS 338.550 - Time for making payments; amounts paid.
NRS 338.555 - Amounts withheld as retainage; payment of interest.
NRS 338.565 - Payment of interest on amounts withheld improperly.
NRS 338.590 - Time for making payments; amounts paid.
NRS 338.595 - Amounts withheld as retainage; payment of interest.
NRS 338.605 - Payment of interest on amounts withheld improperly.
NRS 338.635 - Action by subcontractor or supplier to remedy unjustified or excessive withholding.
NRS 338.640 - Award of reasonable costs and attorney’s fees to prevailing party.