§ 37-12-1. Contractors required to give bond — Terms and conditions. Every person (which word for the purposes of this chapter shall include a copartnership, a number of persons engaged in a joint enterprise, or a corporation), before being awarded a contract by the department of transportation or by the department of administration, as the […]
§ 37-12-10. Retainers relating to contracts for public works, sewer, or water main construction. (a) Upon substantial completion of the work required by a contract aggregating in amount less than five hundred thousand dollars ($500,000) for the construction, reconstruction, alteration, remodeling, repair, or improvement of sewers and water mains, or any public works project defined […]
§ 37-12-10.1. Contractor/subcontractor retainage. (a) No contract for construction, as defined in § 5-65-1, or for state or municipal public works projects, as defined in this title, excluding contracts under § 37-12-10, shall include retainage that exceeds five percent (5%) of any progress payment. (b) Not later than fourteen (14) days after reaching substantial completion, […]
§ 37-12-11. Substitution of securities for retained earnings. (a) Where any public works contract as defined by § 37-13-1 provides for the retention of earned estimates by the state of Rhode Island, the contractor may, from time to time, withdraw the whole or any portion of the amount retained for payments to the contractor pursuant […]
§ 37-12-2. Rights of persons furnishing labor and materials. Every person who shall have performed labor and every person who shall have furnished or supplied labor, material, or equipment in the prosecution of the work provided for in the contract, in respect of which a payment bond is furnished under § 37-12-1, and who has […]
§ 37-12-3. Remedies of creditors and state — Priority of claims. The remedy on the bond shall be by a civil action brought in the superior court for the counties of Providence and Bristol and in any suit brought on the bond the rights of the state shall be prior to those of all creditors. […]
§ 37-12-4. Intervention by creditor in suit brought by state. Any person claiming to be a creditor under the bond may at any time intervene and become a party in any pending suit brought as aforesaid by the state on the bond, and by so intervening may have the rights to the person adjudicated in […]
§ 37-12-5. Time limitation on creditors’ actions. No suit instituted under § 37-12-2 shall be commenced after the expiration of two (2) years, or under the maximum time limit as contained within any labor or material payment bond required under § 37-12-1, whichever period is longer, after the day on which the last of the […]
§ 37-12-6. Intervention in suit brought by creditor — Consolidation of suits. When a suit has been so brought on the bond by a person claiming to be a creditor under the bond and is pending, any other person claiming to be a creditor under the bond may intervene and become a party in the […]
§ 37-12-7. Notice of pendency of suit. In any suit brought under the provisions of this chapter such personal notice of the pendency of the suit as the court may order shall be given to all such known creditors and persons claiming to be creditors under the bond as shall not have entered their appearances […]
§ 37-12-8. Certified copies of documents. Any person claiming to be a creditor under the bond and having filed a claim with the respective department, in accordance with the requirements of § 37-12-2, shall have the right, at any time when the person could under this chapter file a suit or intervene in a pending […]
§ 37-12-9. Payment into court by surety — Discharge. The surety on the bond may pay into the registry of the court, for distribution among those who may be or become entitled thereto under the decree of the court, the penal sum named in the bond less any amount which the surety may have paid […]
