Upon transfer of the funds as provided in Section 67-3-49 NMSA 1978, the state transportation commission shall close its book of account upon such project and shall have no further responsibility in connection with such fund or with the payment of the balance of money remaining to the credit of said contractor upon said contract.
History: Laws 1929, ch. 108, § 2; C.S. 1929, § 64-343; 1941 Comp., § 58-239; 1953 Comp., § 55-2-39; 2003, ch. 142, § 58.
ANNOTATIONSThe 2003 amendment, effective July 1, 2003, substituted "of the funds as provided in Section 67-3-49 NMSA 1978" for "being made"; and substituted "state transportation commission" for "state highway commission".
Making final payment when road may need to be redone. — The commission may lawfully make final payment to a highway contractor on a road constructed by the said contractor when it appears that it may be necessary to remove and replace the surface base and subbase of the highway at considerable expense, unless the contractor failed to meet the standard and special specifications which constitute a part of the contract and such failure to follow said specifications resulted in the failure of the highway. 1958 Op. Att'y Gen. No. 58-147.