Ch. 48

LAWS OF MARYLAND

EXCEPT AS PROVIDED IN § 15-105 OF THIS SUBTITLE, INTEREST
SHALL ACCRUE AT THE RATE SPECIFIED IN § 11-107(A) OF THE COURTS
ARTICLE ON ANY AMOUNT THAT:

(1)  IS DUE AND PAYABLE BY LAW AND UNDER THE WRITTEN
PROCUREMENT CONTRACT; AND

(2)  REMAINS UNPAID MORE THAN 45 DAYS AFTER A UNIT
RECEIVES AN INVOICE.

(B) INTEREST ACCRUAL.

INTEREST SHALL ACCRUE BEGINNING ON THE 31ST DAY AFTER:

(1)  THE DAY ON WHICH PAYMENT BECOMES DUE UNDER A
PROCUREMENT CONTRACT; OR

(2)  IF LATER, THE DAY ON WHICH THE UNIT RECEIVES AN
INVOICE.

REVISOR'S NOTE: This section is new language derived
without substantive change from former SF §§ ll-132(d)
and 11-134.

Defined terms: "Invoice" § 15-101
"Procurement contract" § 11-101
"Unit" § 11-101

15-105. INTEREST NOT PAYABLE.

A UNIT IS NOT LIABLE UNDER § 15-104 OF THIS SUBTITLE FOR
INTEREST:

(1)  UNLESS WITHIN 30 DAYS AFTER THE DATE ON THE
STATE'S CHECK FOR THE AMOUNT ON WHICH THE INTEREST ACCRUED, THE
CONTRACTOR SUBMITS AN INVOICE FOR THE INTEREST;

(2)  IF A CONTRACT CLAIM HAS BEEN FILED UNDER SUBTITLE
2 OF THIS TITLE;

(3)  ACCRUING MORE THAN 1 YEAR AFTER THE 31ST DAY
AFTER THE UNIT RECEIVES AN INVOICE; OR

(4)  ON AN AMOUNT THAT REPRESENTS UNPAID INTEREST.

REVISOR'S NOTE: This section is new language derived
without substantive change from former SF §§ ll-132(b)
and 11-135.

In item (1) of this section, the reference to the
"State's check" is substituted for the former

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