Md. Code Ann., State Fin. & Proc. § 15-103
Redline — January 1, 2019 → current.View current text →
Current — January 1, 2026
As of January 1, 2019
It is the policy of the State to make a payment under a procurement contract within 30 days:
(a) It is the policy of the State to make a payment under a procurement contract: (1) within 30 days after the day on which the payment becomes due and the unit receives a proper invoice; or (2) for a small business reserve contract, within 15 days after the day on which the payment becomes due and the unit receives a proper invoice.
(1) after the day on which the payment becomes due under the procurement contract; or
(2) if later, after the day on which the unit receives an invoice.
(b) Interest shall accrue in accordance with § 15–104 of this subtitle.
Official source: Maryland General Assembly. Reproduced from public-domain Maryland statutes; confirm against the official source for the current text. Not legal advice.