§ 42-11.1-9 - Disclaimer of state responsibility for interest payments incurred by contractors.
SECTION 42-11.1-9
§ 42-11.1-9 Disclaimer of stateresponsibility for interest payments incurred by contractors. – In the event that an interest payment is made by or incurred by a contractor inthe course of transacting business with any entity other than a state agency,the interest shall not be an obligation of the state and the state shall notreimburse the contractor for the interest, nor shall any monies expended forthe interest payments be counted toward any matching requirement applicable togrants or payments of state funds unless expressly permitted by statute orregulation.