Hello - your summary of Kentucky retainage law seems to indicate that there is no escrow requirement. KRS 371.160 seems (for larger projects) to indicate otherwise. Is KRS 371.160 inapplicable? If so, why? Thank you.
You are absolutely correct. For non-public projects, $500,000 or more, escrow of retainage is required by KRS 371.160.
I am an independent attorney, and am not employed or compensated by Levelset; however, I appreciate you pointing out this inconsistency.