State agencies, including exempt agencies, may enter into contracts which contemplate the payment of interest, late charges, but only when such late charges are incurred sixty (60) days after payment is due, or carrying charges under such rules as may be promulgated by the State Procurement Director.
Ark. Code Ann. § 19-4-706
Interest and carrying charges
Known as the General Accounting and Budgetary Procedures Law
The act spans §§ 19–19 (180 sections).
Acts 1973, No. 876, § 25; 1985, No. 365, § 13; A.S.A. 1947, § 13-351; Acts 1997, No. 1066, § 1; 2019, No. 315, § 1712.
Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.