Adopted

AMENDMENT NO 1 TO AMENDMENT NO 1 PROPOSED TO

Senate Bill No. 2762

BY: Representative Yancey

AMEND on lines 38 through 42 by deleting the following language:

"After the contractor has completed fifty percent (50%) of the work in substantial compliance with the contract requirements and thereafter remains in substantial compliance with the contract requirements, no further retainage may be withheld."

AMEND further on lines 57 through 61 by deleting the following language: 

"After the subcontractor has completed fifty percent (50%) of the work in substantial compliance with the subcontract requirements and thereafter remains in substantial compliance with the subcontract requirements, no further retainage may be withheld."  

AMEND further on lines 76 through 80 by deleting the following language: 

"After the sub-subcontractor has completed fifty percent (50%) of the work in substantial compliance with the sub-subcontract requirements and thereafter remains in substantial compliance with the sub-subcontract requirements, no further retainage may be withheld."