"Subcontractor" includes a person who contracts with a contractor or another subcontractor on predetermined terms to be responsible for the performance of all or part of a job of construction in accordance with established specifications or plans.
(2) As used in ORS 701.410 (Definitions), 701.420 (Partial payment), 701.430 (Performance bond), 701.435 (Deposits in lieu of cash retainage) and 701.440 (Applicability to federal projects), "retainage" means the difference between the amount earned by a contractor or subcontractor under a construction contract and the amount paid on the contract by the owner or, in the case of a subcontractor, by a contractor or another subcontractor. [1975 c.772 §1; 1987 c.158 §148; 1999 c.59 §209; 2003 c.794 §319; 2005 c.22 §§480,481]
Note: 701.410 (Definitions) to 701.440 (Applicability to federal projects) were enacted into law by the Legislative Assembly but were not added to or made a part of ORS chapter 701 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.Oregon Legislature 1