338.520 - Payment of outstanding balance upon occupancy, use or recording of notice of completion. - Nevada Statutes

338.520  Payment of outstanding balance upon occupancy, use or recording of notice of completion.  Except with respect to any payment withheld pursuant to NRS 338.525, if:

      1.  A public body or a person acting with the authority of the public body occupies or begins use of a public work or a portion of a public work;

      2.  A notice of completion for a public work or a portion of a public work is recorded as provided in NRS 108.228; or

      3.  A public body partially occupies one or more buildings of a public work,

Ê the public body shall pay or cause to be paid to the contractor any outstanding payment due, including, without limitation, retainage, and any interest accrued thereon within 30 days after whichever event described in subsection 1, 2 or 3 occurs first. The amount paid must be in the proportion that the value of the portion of the public work which is used or occupied bears to the total value of the public work.

      (Added to NRS by 1999, 1984)