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Statutes Text

Article - State Finance and Procurement




§15–103.

    (a)    It is the policy of the State to make a payment under a procurement contract:

        (1)    within 30 days after the day on which the payment becomes due and the unit receives a proper invoice; or

        (2)    for a small business reserve contract, within 15 days after the day on which the payment becomes due and the unit receives a proper invoice.

    (b)    Interest shall accrue in accordance with § 15–104 of this subtitle.



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