Md. Code, State Fin. & Proc. § 15-103
Md. Code, State Fin. & Proc. § 15-103
Maryland · Maryland Code, State Finance and Procurement · Status: effective
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- Md. Code, State Fin. & Proc. § 15-103, Maryland, version 1 as recorded 2026-09-29, yourstate.us, https://yourstate.us/provision/1787597
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Full text
(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.