{"data":{"id":"us-ok/okla.-stat.-tit.-61-61-113.2","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 61, § 61-113.2","heading":"Withdrawal of retainage - Deposit of securities","body":"The contractor may, from time to time, withdraw any part, or the\n\nwhole, of the amount which has been retained from partial payments\n\nto the contractor pursuant to the terms of contract, upon depositing\n\nwith or delivery to the awarding public agency, or other appropriate\n\npublic official designated in the contract document: (1) United\n\nStates Treasury bonds, United States Treasury notes, United States\n\nTreasury bills, or (2) general obligation bonds of the State of\n\nOklahoma, or (3) certificates of deposit from a state or national\n\nbank having its principal office in the State of Oklahoma. No\n\nretained amount shall be withdrawn which would represent an amount\n\nin excess of the market value of the securities at the time of\n\ndeposit or of the par value of such securities, whichever is lower.\n\nAt the time of deposit of any securities the same shall be\n\nendorsed, if necessary, and shall be accompanied by a conditional\n\nassignment to the awarding public agency, or to the other public\n\nbody designated as \"owner\" in the contract documents, which will\n\nempower the awarding public agency, or other appropriate public\n\nofficial designated to have custody of same, to negotiate same at\n\nany time to the extent necessary to cause the contract to be\n\nfulfilled. The securities which remain on deposit at the time of\n\ncompletion of any contract and observance by the parties to the\n\ncontract of any other statutory obligations relative thereto shall\n\nbe returned to the contractor.","path":["OK Code","Title 61"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os61.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"94486486e4ddd9e9f6ae2bd69b9b932d35aa37a7e18c4e2f6aa696203f8ec57d","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-61-61-113.1v2","next":"us-ok/okla.-stat.-tit.-61-61-113.3"},"notice":"GroundRules: Original legal text. Not legal advice."}