§ 15-103
76 words·~1 min read·
/md/state-finance-and-procurement/15-103·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§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.