An interest penalty of one percent (1%) of any amount approved and unpaid shall be added to the amount approved for each month or fraction thereof after the thirty (30) working days which followed receipt of the goods or services or vendor's invoice by a purchasing agency.
KRS 45.454
Penalty for late payment
Known as the Kentucky Equal Employment Opportunity Act
The act spans §§ 45–45 (161 sections).
Effective: July 15, 1998 History: Amended 1998 Ky
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.