PocketLaw | Michigan Compiled Laws | 524 of 1980 - Construction

524 of 1980 - Construction Contracts With Certain Public Agencies (125.1561 - 125.1566)

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Section
125.1561

Definitions.

Section
125.1562

Construction Contract; Designation of Person to Submit Written Requests for Progress Payments; Designation of Person to Whom Requests for Progress Payments to Be Submitted; Manner and Times of Submissions; Deferring the Processing of Progress Payments; Payment of Requested Progress Payment; Failure of Public Agency to Make Timely Progress Payment; Interest.

Section
125.1563

Retaining Portion of Each Progress Payment to Assure Proper Performance of Construction Contract; Retainage; Limitations; Exceeding Pro Rata Share of Public Agency's Matching Requirement; Commingling and Deposit of Retained Funds; Releasing to Contractor Retainage and Interest Earned on Retainage; Irrevocable Letter of Credit.

Section
125.1564

Construction Contract; Agreement to Submit Matters Described in Subsection (3) to Decision of Agent; Designation of Agent; Dispute Resolution Process; Use; Agent to Receive Pertinent Information and Provide Opportunity for Informal Meeting; Decision of Agent to Be Final and Binding; Vacation of Decision by Circuit Court; Dispute Resolution Resulting in Decision; Final Progress Payment to Original Contractor Where Public Agency Contracts With Subsequent Contractor.

Section
125.1565

Construction Contracts to Which Act Applicable.

Section
125.1566

Effective Date.