Oklahoma § 61-223 - Construction contracts - Progress payments - Reduction
Full text of Oklahoma Oklahoma Statutes § 61-223 — Construction contracts - Progress payments - Reduction, with citation guidance and answers to common questions.
§ 61-223. Construction contracts - Progress payments - Reduction
A. On all construction contracts exceeding Twenty-five Thousand
Dollars ($25,000.00) in value an owner shall make progress payments
to the prime contractor for work performed and materials properly
stored, within thirty (30) calendar days after a proper invoice is
submitted to the owner or a representative designated by the owner.
B. An owner or entity designated by the owner, may not reduce a
proper invoice of a prime contractor without detailing and
forwarding to the prime contractor, within fourteen (14) calendar
days of receipt of the proper invoice, the reasons for reduction.
The reduction may not be more than an amount that is reasonable to
correct the work, as set forth in writing.
C. If a contracting entity has had their proper invoice reduced
by another entity all other affected entities having a construction
Oklahoma Statutes - Title 61. Public Buildings and Public Works
contract with the contracting entity shall be notified within seven
(7) calendar days. Except as affected by a prior reduction, a prime
contractor or subcontractor may not reduce the proper invoice of
another subcontractor, sub-subcontractor, or material supplier
without detailing and forwarding to the subcontractor, subsubcontractor, or material supplier, within seven (7) calendar days
of receipt of the proper invoice, the reasons for reduction. A
prime contractor, subcontractor, or sub-subcontractor may also
reduce a payment of a contracted party from a previous proper
invoice. Any such reductions may not be more than an amount that is
reasonable to correct the reasons for reduction, as set forth in
writing. Any prime contractor, subcontractor or sub-subcontractor
may be exempt from notification if the reduction is less than one
percent (1%) of its net proper invoice or is due to mathematical
errors.
Added by Laws 2004, c. 256, § 3, eff. Nov. 1, 2004. Amended by Laws
2004, c. 425, § 3, eff. July 1, 2004; Laws 2005, c. 92, § 2, eff.
Nov. 1, 2005. Renumbered from Title 15, § 623 by Laws 2005, c. 92,
§ 6, eff. Nov. 1, 2005.
Frequently Asked Questions About Oklahoma § 61-223
What does Oklahoma Statutes § 61-223 cover?
Section 61-223 ("Construction contracts - Progress payments - Reduction") is part of the Oklahoma Statutes, the codified statutory law of Oklahoma. 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 Oklahoma § 61-223?
A common citation format is "Oklahoma Statutes § 61-223" (Oklahoma). 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 Oklahoma law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Oklahoma official source linked on this page or consult a licensed Oklahoma attorney.
How does Oklahoma § 61-223 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Oklahoma 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 Oklahoma.