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The Retainage Escrow Requirement

The Legal and Financial Ramifications of Louisiana Senate Bill No. 218, La. R.S. 9:4815

Construction Financial Management Association, South Central Louisiana Chapter Meeting
April 21, 2011

HORNE LLP's Jeff Aucoin, CPA, CFF, CFE, CIA, presents the effects and implications of the new La. R.S. 9:4815. This new law requires that retainage withheld on Louisiana construction projects be placed in escrow accounts rather than held by the owner.

In this session, we will review:

• How other states have handled similar requirements
• How we expect the Louisiana rules on this requirement to develop 
• Considerations for creating and using these accounts on Louisiana projects

The escrow requirement will impact owners, architects, engineers and contractors who are working on and administering Louisiana projects. Gain useful insights into how this new law will affect you and your business.