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Colo. Rev. Stat. § 38-46-101 Definitions
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As used in this article 46, unless the context otherwise requires: (1) "Contract" means a contract to construct, alter, or repair a structure on or improvement on real property. (2) "Contractor" means a person that is a party to a contract with a property owner. (2.5) "Like bond"…
Colo. Rev. Stat. § 38-46-102 Applicability of article
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(1) Except as provided in subsection (2) of this section, this article 46 applies to: (a) A contract that: (I) Has a price of at least one hundred fifty thousand dollars; and (II) Is made between a property owner and a contractor; (b) A subcontract to a contract described in subs…
Colo. Rev. Stat. § 38-46-103 Private construction contracts - retainage - conditions precedent
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(1) (a) A property owner, contractor, or subcontractor shall not withhold as retainage more than five percent of the price of the work completed under the contract or subcontract. Making a partial payment under this subsection (1) is not acceptance or approval of some of the work…
Colo. Rev. Stat. § 38-46-104 Lien waivers
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To receive payment under this article 46, the recipient of the payment must provide an executed lien waiver for amounts actually paid if required by the contract, subcontract, or supply agreement. Source: L. 2021: Entire article added, (HB 21-1167), ch. 146, p. 861, § 1, effectiv…