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45A.410 Inspection of contractor's place of business -- Audit of records.

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45A.410 Inspection of contractor's place of business -- Audit of records. (1) The local public agency may inspect the plant or place of business of a contractor or any subcontractor under any contract awarded or to be awarded by the local public <br>agency. (2) The local public agency may audit the books and records of any person who has submitted cost or pricing data under KRS 45A.405, at any time until the period of <br>record retention as set forth in subsection (3) of this section shall have expired. The <br>right to audit hereunder shall only extend to those books and records reasonably <br>connected with cost or pricing data submitted under KRS 45A.420, and such books <br>and records shall be maintained by the contractor or subcontractor for the period <br>specified in subsection (3) of this section. (3) The local public agency shall be entitled to audit the books and records of a contractor or any subcontractor under any negotiated contract or subcontract other <br>than a firm fixed-price type contract, provided, however, that this subparagraph <br>shall not limit the right to audit as set forth in subsection (2) of this section. Such <br>books and records shall be maintained by the contractor for a period of five (5) <br>years from the date of final payment under the prime contract and by the <br>subcontractor for a period of five (5) years from the date of final payment under the <br>subcontract. Effective: January 1, 1980 <br>History: Created 1978 Ky. Acts ch. 110, sec. 83, effective January 1, 1980.