§ 34.72. Procedure for payment of interest
Oklahoma Statutes AnnotatedTitle 62. Public Finance
62 Okl.St.Ann. § 34.72
§ 34.72. Procedure for payment of interest
The Director of the Office of Management and Enterprise Services shall establish a procedure to assess and pay interest for the late payment of an invoice, which interest shall be calculated beginning the thirtieth day after receipt by the designated office of a proper invoice for which payment has not been mailed, transmitted, or delivered to a vendor by the close of business on the forty-fifth day. Such interest shall be at an annualized rate based on an average of the interest rate for thirty-day time deposits of state funds during the last calendar quarter of the last preceding fiscal year, as reported by the State Treasurer.
Credits
1983 H.J.R. No. 1010, p. 1167, § 2, emerg. eff. May 24, 1983. Renumbered from Title 62, § 41.4b and amended by Laws 2009, c. 441, §§ 49, 64, eff. July 1, 2009; Laws 2012, c. 304, § 395.
62 Okl. St. Ann. § 34.72, OK ST T. 62 § 34.72
Current with emergency effective legislation through Chapter 257 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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