28-2-2110. Limit on retainage. (1) The maximum retainage applied to construction contracts subject to the provisions of this part may not exceed 10% if the construction contractor is performing by the terms of the contract.
     (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.

     History: En. Sec. 1, Ch. 364, L. 2001.