RSA 21-I:20 State Contracts; Withholding Percentage of Money Due.
Title: I - THE STATE AND ITS GOVERNMENT
Chapter: 21-I - DEPARTMENT OF ADMINISTRATIVE SERVICES
Under any contract made or awarded by a state agency which exceeds a total of $500,000 and on which a state agency withholds a percentage of the money due the contractor until the state agency has accepted the contract, the contractor may withdraw the whole or a portion of the amount retained under the following conditions:
I. A negotiable certificate of deposit, United States treasury notes, United States treasury certificates of indebtedness, United States treasury bills, or bonds or notes of the state of New Hampshire or of any political subdivision of the state of New Hampshire in an amount equivalent to the amount to be withdrawn shall be first deposited with the treasurer of the state of New Hampshire. The initial amount deposited shall be at least $10,000. No amount sha