Tenn. Code Ann. § 66-34-302
Application for payment for work — Payment according to schedule for payments — Interest
Redline — September 1, 2020 → current.View current text →
Current — September 30, 2020
As of September 1, 2020
(1) If a subcontractor, materialman, or furnisher has performed in accordance with the subcontractor, materialman, or furnisher's written contract with the contractor, then the contractor shall pay to the subcontractor, materialman or furnisher the full amount earned by the subcontractor, materialman or furnisher, subject only to any condition precedent for payment clause in the contract, and less only those amounts withheld in accordance with § 66-34-303. The payment shall be made in accordance with the schedule for payments established within the contract and within thirty (30) days after application for payment is timely submitted by the subcontractor, materialman, or furnisher to the contractor, in accordance with the schedule.
(1) If a remote contractor has performed in accordance with the remote contractor's written contract with the prime contractor, then the prime contractor shall pay to the remote contractor the full amount earned by the remote contractor, subject only to any condition precedent for payment clause in the contract, and less only those amounts withheld in accordance with § 66-34-303. The payment must be made in accordance with the schedule for payments established within the contract and within thirty (30) days after application for payment is timely submitted by the remote contractor to the prime contractor, in accordance with the schedule.
(2) The subcontractor, materialman, or furnisher shall also be paid its pro rata share of any interest provided for in § 66-34-601 that has been received by the contractor.
(2) The prime contractor shall also pay the remote contractor its pro rata share of any interest provided for in § 66-34-601 that has been received by the prime contractor.
Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.