North Dakota § 43-07-23 - Allowable retention of estimates - Interest on retainage
Full text of North Dakota North Dakota Century Code § 43-07-23 — Allowable retention of estimates - Interest on retainage, with citation guidance and answers to common questions.
§ 43-07-23. Allowable retention of estimates - Interest on retainage
Contracts entered between persons for the performance of work to be done by a contractor, except those contracts subject to section 40-22-37 or 48-01.2-13, or contracts governed by federal statutes or regulations which require other provisions with respect to retention, are subject to a maximum retention on amounts due under the contract as follows: retention of ten percent of each estimate presented is allowable until such time as the project is fifty percent complete, with no further retainage on estimates during the continuance of the contract. If the owner, governing board, or authorized committee invests the retained estimate funds, the interest earned on those retained funds is payable at the time of final payment on the contract to the contractor on whose account the moneys were held.
Source: official North Dakota text · Last verified 2026-08-27
Frequently Asked Questions About North Dakota § 43-07-23
What does North Dakota Century Code § 43-07-23 cover?
Section 43-07-23 ("Allowable retention of estimates - Interest on retainage") is part of the North Dakota Century Code, the codified statutory law of North Dakota. 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 North Dakota § 43-07-23?
A common citation format is "North Dakota Century Code § 43-07-23" (North Dakota). 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 North Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Dakota official source linked on this page or consult a licensed North Dakota attorney.
How does North Dakota § 43-07-23 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Dakota 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 North Dakota.