Nevada § 338.530 - Payment of interest on amounts withheld improperly
Full text of Nevada Nevada Revised Statutes § 338.530 — Payment of interest on amounts withheld improperly, with citation guidance and answers to common questions.
§ 338.530. Payment of interest on amounts withheld improperly
1. If a public body receives: (a) A progress bill or retainage bill, fails to give a contractor a written notice
of any withholding in the manner set forth in subsection 2 of NRS 338.525 , and does not pay the contractor within 30 days after receiving the progress bill
or retainage bill; or (b) A contractor's written notice of the correction of a condition set forth pursuant
to subsection 2 of NRS 338.525 as the reason for the withholding, signed by an authorized agent of the contractor,
and fails to: (1) Pay the amount of the progress payment or retainage payment that was withheld
from the contractor within 30 days after the public body receives the next progress
bill or retainage bill; or (2) Object to the scope and manner of the correction, within 30 days after the public
body receives the notice of correction, in a written statement that sets forth the
reason for the objection and is signed by an authorized agent of the public body, the public body shall pay to the contractor, in addition to the entire amount of the
progress bill or retainage bill or any unpaid portion thereof, interest from the 30th
day on the amount delayed, at a rate equal to the amount provided for in subsection
6 of NRS 338.515 , until payment is made to the contractor. 2. If the public body objects pursuant to subparagraph (2) of paragraph (b) of subsection
1, it shall pay to the contractor an amount equal to the value of the corrections
to which the public body does not object.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 338.530
What does Nevada Revised Statutes § 338.530 cover?
Section 338.530 ("Payment of interest on amounts withheld improperly") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 338.530?
A common citation format is "Nevada Revised Statutes § 338.530" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 338.530 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.