(a) Under any contract made or awarded by the state or by any public department or official thereof, including the construction, improvement, or repair of any and all ways, roads, or bridges with appurtenances which, by law, are under the supervision of the State of Arkansas or any political subdivision, the contractor may withdraw the […]
(a) With respect to all contracts made or awarded by the State Highway Commission, including the construction, improvement, or repair of any and all roads and bridges with appurtenances which are, by law, under the supervision of the commission, a contractor may withdraw the whole, or any portion thereof, of the amount retained for payments […]
(a) Any assignment of retained payments made by the contractor shall be honored by the Treasurer of State as part of the procedure to accomplish the substitution of securities under this subchapter, except that the assignment shall not be made without prior notification to the contracting agency of the state and the Treasurer of State. […]
Any amount deducted by the state or by any public department or official thereof, pursuant to the terms of the contract, from the retained payments due the contractor shall be deducted first from that portion of the retained payments for which no security has been substituted and then from the proceeds of any deposited security. […]
(a) The Treasurer of State shall have the power to enter into a contract or agreement with any state or national bank having a trust department located in Arkansas for the custodial care and servicing of any securities deposited with him or her pursuant to this subchapter. (b) The services shall consist of the safekeeping […]
