State Affairs and Government

CHAPTER 42-11.1
Prompt Payment by Department of Administration

SECTION 42-11.1-9

§ 42-11.1-9. Disclaimer of state responsibility for interest payments incurred by contractors.

In the event that an interest payment is made by or incurred by a contractor in the course of transacting business with any entity other than a state agency, the interest shall not be an obligation of the state and the state shall not reimburse the contractor for the interest, nor shall any monies expended for the interest payments be counted toward any matching requirement applicable to grants or payments of state funds unless expressly permitted by statute or regulation.

History of Section.
(P.L. 1987, ch. 73, § 1.)