sec.37Ending retention trust

### sec.37 Ending retention trust If a retention trust is established for a retention amount withheld from payment under a contract, the trust is dissolved if all of the amount has been released to the parties entitled to it under the contract. On the dissolution of a retention trust, the trustee may pay itself all amounts held in the trust that are not owing to another beneficiary. s 37 amd 2018 No. 17 s 176X sub 2020 No. 24 s 63 (sec.37-ssec.1) If a retention trust is established for a retention amount withheld from payment under a contract, the trust is dissolved if all of the amount has been released to the parties entitled to it under the contract. (sec.37-ssec.2) On the dissolution of a retention trust, the trustee may pay itself all amounts held in the trust that are not owing to another beneficiary.