Oklahoma SB739 prohibits retainage withholding on certain construction contracts and sets a new effective date.
Oklahoma SB739 amends the state's construction contract law by prohibiting retainage withholding on contracts or subcontracts subject to a bond. The bill specifies that up to 5% of partial payments can be withheld until a project is 50% complete, after which the retainage amount reduces to 2.5%. The act takes effect on November 1, 2025.
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