81-2404. Creditor; charge interest; when.

177 words·~1 min read·/ne/chapter-81/81-2404

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Any creditor of an agency not receiving payment in full for goods delivered or services rendered within the forty-five-day or sixty-day time period, whichever is applicable, may charge the agency interest on the unpaid principal balance at the rate specified in section 45-104.02 , as such rate may from time to time be adjusted. Interest charges shall begin to accrue on the thirty-first calendar day after

(1)the date of receipt by the agency of the goods or services or

(2)the date of receipt by the agency of the bill for the goods or services, whichever is later, and shall terminate on the date on which payment in full of the amount due is made. Each agency shall pay the interest charge upon request unless the bill is the subject of a good faith dispute between the agency and the creditor. No claim by a creditor for interest charges shall be allowed unless the agency is requested to pay the interest charges within ninety calendar days from the date on which payment in full is due.