(1) Each contractor awarded a contract for public project with a contract price of five hundred thousand dollars or more and each subcontractor who performs work on the public project shall post in conspicuous places on the project, where employees are employed, posters that contain the current prevailing rate of wages and the current prevailing rate of payments to the funds required to be paid for each employee employed to execute the contract as established in sections 24-92-203 and 24-92-204, and the rights and remedies of any employee described in section 24-92-210 for nonpayment of any wages earned pursuant to this section. The posters shall be furnished to contractors and subcontractors by the director in a form and manner to be determined by the director. (2) A contractor or subcontractor who fails to comply with this section commits a petty offense and shall pay to the director one hundred dollars for each calendar day of noncompliance as determined by the director. (3) Contracts for public works projects shall contain the specific obligations of the contractor under this section including provisions regarding the posting of posters on the job site as required by this section and the department's procedures for the contractor to receive the posters.
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