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A10276 Summary:

BILL NOA10276
 
SAME ASSAME AS S00037
 
SPONSORBraunstein
 
COSPNSR
 
MLTSPNSR
 
Amd 756-c, Gen Bus L
 
Provides for a reasonable amount of construction contract sum to be deposited in a separate interest bearing escrow account with a third party escrow agent; provides further that the owner shall be subject to the payment of interest, in addition to the escrow interest, at the rate of one percent per month and the contractor or subcontractor shall be subject to payment of interest on the amount of retainage it holds at the rate of one percent per month.
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