§ 16-6-602 — Payment of agency accounts; interest

Except as provided by contract, any agency which purchases or
procures goods and services from a nongovernmental entity shall
pay the amount due within forty-five (45) days after receipt of
a correct notice of amount due for the goods or services
provided or shall pay interest from the forty-fifth day at the
rate of one and one-half percent (1 1/2%) per month on the
unpaid balance until the account is paid in full, unless a good
faith dispute exists as to the agency's obligation to pay all or
a portion of the account.