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2000 SESSION

005503748
HOUSE BILL NO. 1389
Offered January 24, 2000
A BILL to amend the Code of Virginia by adding a section numbered 43-4.2, relating to mechanic's liens.
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Patron-- Griffith
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Referred to Committee for Courts of Justice
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Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding a section numbered 43-4.2 as follows:

43-4.2. General contractor to guarantee payment.

A general contractor shall give the owner of property on which construction work is being done a written guarantee that all subcontractors and material suppliers have been paid or will be paid within 45 days of either (i) payment by the owner to the general contractor of a progress payment or payment in full, or (ii) the date of completion of the work done by such subcontractor or supplier. In the event the general contractor breaches his guarantee, the owner of the property shall receive treble damages, court costs and attorney's fees for any unpaid lien against the property, plus interest at the judgment rate from the date the guarantee was breached.