Section 341.100 - Progress payments1. The Administrator shall expedite payment of approved and certified claims by the contractor.2. The contractor must warrant that he or she has good title to all materials and supplies for which the contractor accepts payment.3. The Administrator shall pay the retained portion of the money due under a contract on the date when the notice of completion is filed if the contractor releases all claims against the Administrator and provides all guarantees and instructions required by the contract. The Administrator may release a portion of the retained money before the notice of completion is filed if he or she determines that the project is functionally complete.4. The Administrator may make payment for materials if they are:(a) Stored and protected on-site or in a bonded and insured warehouse; and(b) Otherwise protected from other claims.5. Unless a contractor has the Administrator's written consent to do so, the contractor shall not assign any part of the money that is due or is to become due to him or her under the contract. If a contractor has the Administrator's written consent for such an assignment, the instrument of assignment must contain a clause providing that the right of the assignee to any money due or to become due to the contractor is subject to any prior rights or liens.Nev. Admin. Code § 341.100
Planning Bd., Policy, Procedure and Rules §§ 3500-3506, eff. 1-20-62; A and renumbered as §§ 3400-3407, 5-3-72; A 11-17-73; 7-16-76-NAC A 12-16-82; A by Pub. Works Bd. by R106-11, 5-30-2012