California Civil Code 8818 – If an owner or direct contractor does not make a retention payment …
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If an owner or direct contractor does not make a retention payment within the time required by this article:
(a) The owner or direct contractor is liable to the person to which payment is owed for a penalty of 2 percent per month on the amount wrongfully withheld, in place of any interest otherwise due.
Terms Used In California Civil Code 8818
- month: means a calendar month, unless otherwise expressed. See California Civil Code 14
(b) In an action for collection of the amount wrongfully withheld, the prevailing party is entitled to costs and reasonable attorney’s fees.
(Added by Stats. 2010, Ch. 697, Sec. 20. (SB 189) Effective January 1, 2011. Operative July 1, 2012, by Sec. 105 of Ch. 697 and by Section 8052.)