1. Each subcontractor shall disburse money paid to him or her pursuant to this chapter,
including any interest which the subcontractor receives, to his or her subcontractors
and suppliers within 10 days after the subcontractor receives the money, in direct
proportion to the subcontractors' and suppliers' basis in the progress bill or retainage
bill and any accrued interest thereon.
2. A subcontractor shall make payments to his or her subcontractor or supplier in
an amount equal to that subcontractor's or supplier's basis in the payments paid by
the contractor to him or her for the supplies, materials and equipment identified
in the contract between the contractor and the public body, or in the subcontract
between the subcontractor or supplier and the contractor, within 10 days after the
subcontractor has received a progress payment or retainage payment from the contractor
for those supplies, materials and equipment.
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