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§ 18-503. Interest on unpaid contracts

West's Annotated Code of MarylandLand UseEffective: October 1, 2012

West's Annotated Code of Maryland
Land Use (Refs & Annos)
Division II. Maryland-National Capital Park and Planning Commission [Titles 14-27] (Refs & Annos)
Title 18. Finances (Refs & Annos)
Subtitle 5. Payment of Obligations (Refs & Annos)
Effective: October 1, 2012
MD Code, Land Use, § 18-503
§ 18-503. Interest on unpaid contracts
Currentness
An amount due and payable under an authorized, written procurement contract and in accordance with law that remains unpaid for more than 45 days after the receipt date shall accrue interest:
(1) for the period that begins 31 days after the receipt date; and
(2) at the rate specified in § 11-107(a) of the Courts Article.

Credits

Added by Acts 2012, c. 426, § 2, eff. Oct. 1, 2012.
MD Code, Land Use, § 18-503, MD LAND USE § 18-503
Current through legislation effective through July 1, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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