Home Table of Contents

§ 541. Approval of accounting system

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 62 Pa.C.S.A. Procurement

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 62 Pa.C.S.A. Procurement (Refs & Annos)
Part I. Commonwealth Procurement Code (Refs & Annos)
Chapter 5. Source Selection and Contract Formation
Subchapter E. Types of Contracts
62 Pa.C.S.A. § 541
§ 541. Approval of accounting system
Currentness
No contract type shall be used unless it has been determined in writing by the head of the purchasing agency that:
(1) The proposed contractor's accounting system will permit timely development of all necessary cost data in the form required by the specific contract type contemplated.
(2) The proposed contractor's accounting system is adequate to allocate costs in accordance with generally accepted accounting principles.
Notwithstanding the preceding, a contract may be used without a prior written determination where the contract is a firm, fixed-price contract or a contract awarded under section 516 (relating to emergency procurement).

Credits

1998, May 15, P.L. 358, No. 57, § 1, effective in 180 days.
62 Pa.C.S.A. § 541, PA ST 62 Pa.C.S.A. § 541
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
End of Document