Except as otherwise provided in NRS 338.595, 338.600 and 338.605:
1. Each subcontractor shall disburse money paid to him or her pursuant to this chapter, including any interest which the subcontractor receives, to his or her subcontractors and suppliers within 10 days after the subcontractor receives the money, in direct proportion to the subcontractors’ and suppliers’ basis in the progress bill or retainage bill and any accrued interest thereon.
2. A subcontractor shall make payments to his or her subcontractor or supplier in an amount equal to that subcontractor’s or supplier’s basis in the payments paid by the contractor to him or her for the supplies, materials and equipment identified in the contract between the contractor and the public body, or in the subcontract between the subcontractor or supplier and the contractor, within 10 days after the subcontractor has received a progress payment or retainage payment from the contractor for those supplies, materials and equipment.
(Added to NRS by 1999, 1987)