(1) This section applies to an assignment by an employer of amounts that have become, or are to become, payable to the employer by a prime contractor for contracted work.
(2) The assignment is of no effect as against wages payable, or to become payable, to employees employed by the employer in performance of the work.
(3) Subsection (2) does not apply if the assignment is to the employees employed by the employer in performance of the work concerned for wages payable, or to become payable, to them for performing the work.
(4) In this section—
"assignment" includes disposition and charge, whether legal or equitable.