2011 ORS § 279C.555¹
Withholding of retainage

The withholding of retainage by a contractor or subcontractor on public improvement contracts shall be in accordance with ORS 701.420 (Partial payment) and 701.430 (Performance bond) except when the charter of the contracting agency contains provisions requiring retainage by the contracting agency of more than five percent of the contract price of the work completed. [2003 c.794 §147]