TITLE 42
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.)