[§40-90] Encumbrances, when void.
102 words·~1 min read·
/hi/chapter-40/40-90A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
[§40-90] Encumbrances, when void.
(a)All encumbrances for claims which the comptroller has determined to be inactive shall become void six months from the end of the fiscal year of the original encumbrance, or within a period of time less than six months as designated by the comptroller.
(b)All encumbrances for contracts shall become void after five years from the end of the fiscal year of the original encumbrance; provided that the comptroller may grant an exemption from this subsection if the comptroller finds that there is sufficient justification to extend a contract encumbrance. [L 1996, c 40, pt of §1]