§62-9010.3. Definitions.
82 words·~1 min read·
/ok/title-62-public-finance/62-9010-3·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
As used in the Pay for Success Act:
1. "Pay–for-success contract" or "contract" means a written agreement executed in order to create a public-private partnership contingent upon a specified service or program meeting specified performance targets and outcome measures; and
2. "Success payment" means a single payment or schedule of payments that is identified in a pay-for-success contract to be paid when specified performance targets and outcome measures are met. Added by Laws 2019, c. 202, § 3, eff. Nov. 1, 2019.