103D-708 Interest. Interest on amounts ultimately determined to be due to a contractor or the governmental body shall be payable at the statutory rate applicable to judgments against the State under chapter 662 from the date the governmental body receives notice of the written claim through the date of decision or judgment, whichever is later; except that if an action is initiated in circuit court pursuant to section 103D-711, interest under this section shall only be calculated until the time such action is initiated. [L Sp 1993, c 8, pt of 2; am L 1999, c 162, 6]


Previous Vol02_Ch0046-0115 Next