§ 5-26-2 — Deadlines for payments.

An agency which acquires property or services pursuant to a contract with a business shall pay for each complete delivered item of property or service on the date required by contract between the business and agency or, if no date for payment is specified by contract, within forty - five days after receipt and written acceptance of property or services and receipt of the invoice covering the delivered items or services.

Legislative History

SL 1984, ch 41, § 2; SL 1985, ch 45, § 2; SL 1987, ch 61, § 3; SL 1988, ch 59, § 2.