45A.150 Right to inspect -- Right to audit.
226 words·~1 min read·
/ky/chapter-45a/45a-150A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)The Finance and Administration Cabinet may inspect the plant or place of business
of a contractor or any subcontractor under any contract awarded or to be awarded by
the Commonwealth.
(2)The Finance and Administration Cabinet may audit the books and records of any
person who has submitted cost or pricing data under KRS 45A.120 at any time until
the period of record retention as set forth in subsection
(3)of this section shall have
expired. The right to audit hereunder shall only extend to those books and records
reasonably connected with cost or pricing data submitted under KRS 45A.120, and
such books and records shall be maintained by the contractor or subcontractor for
the period specified in subsection
(3)of this section.
(3)The Finance and Administration Cabinet shall be entitled to audit the books and
records of a contractor or any subcontractor under any negotiated contract or
subcontract other than a firm fixed-price type contract, provided, however, that this
subsection shall not limit the right to audit as set forth in subsection
(2)of this
section. Such books and records shall be maintained by the contractor for a period
of three
(3)years from the date of final payment under the prime contract and by the
subcontractor for a period of three
(3)years from the date of final payment under
the subcontract.