The Vermont Statutes Online
The Vermont Statutes Online does not include the actions of the 2024 session of the General Assembly. We expect them to be updated by November 1st.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Title 19 : Highways
Chapter 001 : State Highway Law; General Transportation Provisions
(Cite as: 19 V.S.A. § 11c)-
§ 11c. Deposit in escrow account of amounts retained from progress payments
Upon satisfactory completion of the contract work and full settlement or payment of all damages, claims, or liabilities incurred in connection with the contract work, the retained percentage and any interest accrued, shall be paid to the contractor or consultant. If the escrow conditions are not fulfilled, then the Agency shall be paid the retained percentage and any interest accrued or such amount necessary to settle or pay the damages, claims, or liabilities. (Added 1993, No. 27, § 2.)
