Maine Revised Statutes Title 5 Sec. 1554 – Payment of late fees
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Terms Used In Maine Revised Statutes Title 5 Sec. 1554
- 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
- Proper invoice: means an invoice for property, products or services deemed to be satisfactory in quality and quantity, in conformance with the request of the state agency and on which the amount due has been correctly calculated. See Maine Revised Statutes Title 5 Sec. 1552
- State agency: means any body of State Government authorized by law to adopt rules, to issue licenses or to take final action in adjudicatory proceedings, including, but not limited to, every authority, board, bureau, commission, department or officer of the State Government so authorized; but the term does not include the Governor, courts, University of Maine System, Maine Maritime Academy, school districts, special purpose districts or municipalities, counties or other political subdivisions of the State. See Maine Revised Statutes Title 5 Sec. 1552
In the event that a proper invoice is not paid within 25 working days after receipt of the invoice, or within 15 days following another date agreed to by the state agency and the business concern, the agency shall be liable to pay a reasonable late fee that shall not exceed the normal late charge that the business concern levies on the amount due on the invoice. [PL 1983, c. 655 (NEW).]
In the event that federal moneys are the budgeted source of funds for payment to business concerns for state agency purchases of goods, property or services, and these moneys are unexpectedly withheld and delayed from reaching the State in time to pay proper invoices without incurring a late fee, the state agency which made the purchases and the State of Maine shall not be liable for any late fees on overdue payments. [PL 1983, c. 655 (NEW).]
SECTION HISTORY
PL 1983, c. 655 (NEW).