Montana § 7-6-402 Interest Assessed On Amounts Due

Montana Statutes

§ 7-6-402 — Interest Assessed On Amounts Due

Montana § 7-6-402

Title 7LOCAL GOVERNMENT

Ch. 6FINANCIAL ADMINISTRATION AND TAXATION

Part 4Counties and Municipalities Interest on Overdue Accounts

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Bluebook

Mont. Code Ann. § 7-6-402 (2026).

Text

7-6-402 . Interest assessed on amounts due.

(1)Except as provided in 7-6-403 , a county or municipality shall pay simple interest at the rate of 0.05% each day on amounts due for supplies and services received if the county or municipality fails to make timely payment.

(2)For purposes of this section, payment is timely if a warrant is mailed or is otherwise made available to the payee when due and for the amount specified in the applicable contract or agreement. If no date is specified in the applicable contract or agreement, payment is timely if paid within 35 days after receipt of a properly completed invoice, addressed to the payer county or municipality, or receipt of the supplies or services by the county or municipality, whichever is later.

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7-6-402 . Interest assessed on amounts due. (1) Except as provided in 7-6-403 , a county or municipality shall pay simple interest at the rate of 0.05% each day on amounts due for supplies and services received if the county or municipality fails to make timely payment.
(2) For purposes of this section, payment is timely if a warrant is mailed or is otherwise made available to the payee when due and for the amount specified in the applicable contract or agreement. If no date is specified in the applicable contract or agreement, payment is timely if paid within 35 days after receipt of a properly completed invoice, addressed to the payer county or municipality, or receipt of the supplies or services by the county or municipality, whichever is later.