Maine Revised Statutes Title 5 Sec. 1551 – Purpose
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Terms Used In Maine Revised Statutes Title 5 Sec. 1551
- Business concern: means a person, partnership or corporation engaged in providing property, products or services for the purpose of gain, benefit or advantage, either direct or indirect, whether or not the concern is organized for profit or not for profit. See Maine Revised Statutes Title 5 Sec. 1552
The purpose of this chapter is to promote prompt payment of obligations incurred by agencies of State Government. It is the intent of the Legislature to prevent hardship for any business concern due to late payment of proper invoices for obligations incurred by state agencies. It is also the intent of the Legislature to encourage business concerns to provide prompt, dependable services and products of a high quality and at a reasonable cost to State Government. [PL 1983, c. 655 (NEW).]
SECTION HISTORY
PL 1983, c. 655 (NEW).