SEARCH SITE
VIRGINIA LAW PORTAL
- Code of Virginia
- Virginia Administrative Code
- Constitution of Virginia
- Charters
- Authorities
- Compacts
- Uncodified Acts
- RIS Users (account required)
SEARCHABLE DATABASES
- Bills & Resolutions
session legislation - Bill Summaries
session summaries - Reports to the General Assembly
House and Senate documents - Legislative Liaisons
State agency contacts
ACROSS SESSIONS
- Subject Index: Since 1995
- Bills & Resolutions: Since 1994
- Summaries: Since 1994
Developed and maintained by the Division of Legislative Automated Systems.
2000 SESSION
004970500Be it enacted by the General Assembly of Virginia:
1. That the Code of Virginia is amended by adding a section numbered 11-4.1:01 as follows:
§ 11-4.1:01 Certain time conditional payment provisions in construction contracts
A. No provision in a construction contract between a contractor and a subcontractor that delays the timing of payment to the subcontractor pending the timing of receipt of payment by the general contractor from the owner may exceed 180 days from the date the subcontractor completes the work for which payment is due in accordance with the terms of the contract with the general contractor. The 180-day time period shall be stayed when payment by the owner or the general contractor or performance by the subcontractor is the subject of litigation, arbitration or mediation agreed to by the subcontractor. The provisions of this subsection shall not apply to retainages not exceeding ten percent of the contract price.
B. Any provision referenced in subsection A may not abrogate or waive the right of a subcontractor to pursue a claim on a contractor’s bond or enforce a lien consistent with § 43-4. In addition, nothing in subsection A shall abrogate or waive any defense under the contractor’s bond.
2. That the provisions of this act shall apply only to contracts and contractor’s bonds entered into after July 1, 2000.