Louisiana Revised Statutes 48:251.3 – Prescription; claims by contractors; surety
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Terms Used In Louisiana Revised Statutes 48:251.3
- Contract: means any contract awarded by the department for construction or maintenance of transportation facilities or work authorized by La. See Louisiana Revised Statutes 48:251.9
- Contract: A legal written agreement that becomes binding when signed.
- Contractor: means any individual, partnership, joint venture, firm, corporation, limited liability partnership, limited liability company, or any acceptable combination thereof contracting for performance of public work for the department. See Louisiana Revised Statutes 48:251.9
Any action arising out of or related to a department contract or on the bond furnished by a contractor shall prescribe five years from recordation of the acceptance of such contract or of notice of default of the contractor or other termination of the contract, whichever occurs first. Any action which would be extinguished by the provisions of this Section may be brought within one year of July 14, 1997.
Acts 1997, No. 1112, §1, eff. July 14, 1997.