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PARRIS N. GLENDENING, Governor
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Ch. 621
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BY repealing and reenacting. with amendments,
Article - State Finance and Procurement
Section 15-108 and 15-226
Annotated Code of Maryland
(1995 Replacement Volume and 1999 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - State Finance and Procurement
13-225.
(A) (1) IN THIS SECTION THE FOLLOWING WORDS HAVE THE MEANINGS
INDICATED.
(2) "PAYMENT SECURITY" HAS THE MEANING STATED IN § 17-101 OF
THIS ARTICLE.
(3) "PERFORMANCE SECURITY" HAS THE MEANING STATED IN § 17-101
OF THIS ARTICLE.
(B) (1) A CONSTRUCTION CONTRACT THAT REQUIRES A PRIMARY
PROCUREMENT UNIT TO MAKE PROGRESS PAYMENTS SHALL MEET THE
REQUIREMENTS OF THIS SUBSECTION.
(2) PROGRESS PAYMENTS:
(I) SHALL BE MADE AT LEAST EVERY MONTH; AND
(II) MAY BE MADE MORE FREQUENTLY IF STIPULATED IN THE
CONTRACT.
(3) IF A CONTRACTOR HAS FURNISHED 100% PAYMENT SECURITY OR
AND 100% PERFORMANCE SECURITY IN ACCORDANCE WITH TITLE 17, SUBTITLE 1, OF
THIS ARTICLE UNDER A STATE PROCUREMENT CONTRACT FOR CONSTRUCTION, THE
AMOUNT RETAINED BY THE PRIMARY PROCUREMENT UNIT FROM EACH PROGRESS
PAYMENT PERCENTAGE SPECIFIED IN THE CONTRACT FOR RETAINAGE MAY NOT
EXCEED 5% OF THE TOTAL AMOUNT OF EACH PROGRESS PAYMENT.
(2) IN ADDITION TO RETAINAGE. A PRIMARY PROCUREMENT UNIT MAY
WITHHOLD FROM PAYMENTS OTHERWISE DUE A CONTRACTOR ANY AMOUNT THAT
THE UNIT REASONABLY BELIEVES NECESSARY TO PROTECT THE STATE'S INTEREST.
(4) (3) AMOUNTS RETAINED RETAINAGE WITHHELD BY A PRIMARY
PROCUREMENT UNIT UNDER PARAGRAPH (3) OF THIS SUBSECTION, SHALL MAY BE
DEPOSITED IN AN INTEREST-BEARING ESCROW ACCOUNT IN ACCORDANCE WITH §
15-108 OF THIS ARTICLE.
(5) WITHIN 30 DAYS OF FINAL ACCEPTANCE BY THE PRIMARY
PROCUREMENT UNIT OF THE WORK REQUIRED UNDER THE CONSTRUCTION
CONTRACT, THE PRIMARY PROCUREMENT UNIT SHALL PAY THE CONTRACTOR THE
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- 3253 -
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