§ 42-11.1-1 Policy
§ 42-11.1-2 Definitions
§ 42-11.1-3 Time period for payment
§ 42-11.1-4 Partial payment
§ 42-11.1-5 Determination of eligibility for payment of interest
§ 42-11.1-6 Computation of interest payment
§ 42-11.1-7 Determination of appropriations for interest payments
§ 42-11.1-8 Exclusion of interest from reimbursement rates
§ 42-11.1-9 Disclaimer of state responsibility for interest payments incurred by contractors
§ 42-11.1-10 Acceptance of payment
§ 42-11.1-11 Chapter to control – Contractual waiver void
§ 42-11.1-12 Judicial review
§ 42-11.1-13 Court actions or other legal processes
§ 42-11.1-14 Inapplicability of chapter
§ 42-11.1-15 Quarterly reports of late payments and interest
§ 42-11.1-16 Partial payment – Certificate of continuance

Terms Used In Rhode Island General Laws > Chapter 42-11.1 - Prompt Payment by Department of Administration

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6
  • Statute: A law passed by a legislature.