There is a newer version of the Michigan Compiled Laws
2010 Michigan Compiled Laws
Chapter 125 - PLANNING, HOUSING, AND ZONING
Act 524 of 1980 - CONSTRUCTION CONTRACTS WITH CERTAIN PUBLIC AGENCIES (125.1561 - 125.1566)
CONSTRUCTION CONTRACTS WITH CERTAIN PUBLIC AGENCIESAct 524 of 1980
AN ACT to provide for the terms of certain construction contracts with certain public agencies; to regulate the payment and retainage of payments on construction contracts with certain public agencies; and to provide for the resolution of certain disputes.
History: 1980, Act 524, Eff. Jan. 1, 1983
- 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.
Disclaimer: These codes may not be the most recent version. Michigan may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.