Sec. 42-158k. Retainage limitation.
Sec. 42-158k. Retainage limitation. No construction contract may provide for
any retainage in an amount that exceeds seven and one-half per cent of the estimated
amount of a progress payment for the life of the construction project.
(P.A. 99-153, S. 3; P.A. 03-167, S. 8.)
History: P.A. 03-167 deleted provision re section not to be construed to require construction contract to contain retainage
provision, effective January 1, 2004.