§ 9:4856 A. No contractor, subcontractor, or agent of a contractor or subcontractor, who has received money on account of a contract for the construction, erection, or repair of a building, s
§ 9:4857 A. When, under the provisions of this Part, a contract in the amount of fifty thousand dollars or more is entered into between an owner and a contractor and if in accordance with the
§ 9:4858 A. The contractor may elect to furnish at the contractor’s cost and without offset of the cost against the retainage amount a retainage bond equal to and in lieu of the amount of the

Terms Used In Louisiana Revised Statutes > Title 9 > CODE TITLE XXI > Chapter 2 > Part I > Subpart H - Misapplication of Proceeds; Retainage

  • Commissioner: means the commissioner of the Department of Agriculture and Forestry, or his duly authorized representatives acting at his discretion. See Louisiana Revised Statutes 3:4602
  • Contract: A legal written agreement that becomes binding when signed.
  • Department: means the Louisiana Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:4602
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
  • petroleum product: shall include compressed natural gas, liquefied natural gas, and liquefied petroleum gas as those terms are defined in La. See Louisiana Revised Statutes 3:4602
  • Plaintiff: The person who files the complaint in a civil lawsuit.