Okla. Stat. tit. 61, § 61-137
This is the official text of Okla. Stat. tit. 61, § 61-137, part of Oklahoma’s Stat. tit. 61, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 61,." Browse the sections below, each linked to its official government source.
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Termination of certain unperformed contracts
Official statutory text
Any contract which has been bid under the provisions of the
Public Competitive Bidding Act, Section 101 et seq. of Title 61 of
the Oklahoma Statutes, and on which no work has been performed and
no formal claim or litigation has been pending within the last
twenty-four (24) months shall be terminated by the public agency
which awarded the contract. After termination, the public agency
shall determine the amount of any final payment due to the
contractor and shall make such payment to the contractor at the
contractor's last-known address, or if the public agency is unable
to locate the contractor, the amount due shall be held in a separate
account by the State Treasurer in the name of the contractor.
Termination of the contract and payment to the contractor or deposit
of the funds due to the contractor as determined by the public
agency shall release the public agency from any further liability to
the contractor or surety company. Any such funds held by the State
Treasurer for the contractor which are not claimed by the contractor
within thirty-six (36) months from the date of deposit with the
State Treasurer shall be deposited in the General Revenue Fund and
the state shall have no further liability on the project to the
contractor or surety company.
Public Competitive Bidding Act, Section 101 et seq. of Title 61 of
the Oklahoma Statutes, and on which no work has been performed and
no formal claim or litigation has been pending within the last
twenty-four (24) months shall be terminated by the public agency
which awarded the contract. After termination, the public agency
shall determine the amount of any final payment due to the
contractor and shall make such payment to the contractor at the
contractor's last-known address, or if the public agency is unable
to locate the contractor, the amount due shall be held in a separate
account by the State Treasurer in the name of the contractor.
Termination of the contract and payment to the contractor or deposit
of the funds due to the contractor as determined by the public
agency shall release the public agency from any further liability to
the contractor or surety company. Any such funds held by the State
Treasurer for the contractor which are not claimed by the contractor
within thirty-six (36) months from the date of deposit with the
State Treasurer shall be deposited in the General Revenue Fund and
the state shall have no further liability on the project to the
contractor or surety company.
Status: in_force · Read it on the official government site
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