33-1060. Pro rata distribution of monies
If monies withheld or required to be withheld pursuant to any stop notice or bonded stop notice are insufficient to pay in full the valid claims of all persons who made claims, the monies withheld or required to be withheld shall be distributed among those persons in the same ratio that their respective claims bear to the aggregate of all such valid claims. This pro rata distribution shall be made among the persons entitled to a share without regard to the order of time in which their respective notices were given or their respective actions, if any, were filed.
Section: Previous 33-1053 33-1054 33-1055 33-1056 33-1057 33-1058 33-1059 33-1060 33-1061 33-1062 33-1063 33-1064 33-1065 33-1066 33-1067 NextLast modified: October 13, 2016