2005 Minnesota Statutes - 137.36 — Prompt payment to subcontractors.

     137.36 Prompt payment to subcontractors. 


    Each university contract must require the prime contractor 
 to pay any subcontractor within ten days of the prime 
 contractor's receipt of payment from the university for 
 undisputed services provided by the subcontractor.  The contract 
 must require the prime contractor to pay interest of 1-1/2 
 percent per month or any part of a month to the subcontractor on 
 any undisputed amount not paid on time to the subcontractor.  
 The minimum monthly interest penalty payment for an unpaid 
 balance of $100 or more is $10.  For an unpaid balance of less 
 than $100, the prime contractor shall pay the actual penalty due 
 to the subcontractor.  A subcontractor who prevails in a civil 
 action to collect interest penalties from a prime contractor 
 must be awarded its costs and disbursements, including attorney 
 fees, incurred in bringing the action. 


    HIST: 1990 c 541 s 16