§ 63G-6a-1910. Interest rates. (Effective 3/29/2014)

Latest version.

(1)

In controversies between a procurement unit and a contractor under this chapter, interest on amounts ultimately determined to be due to a contractor or the procurement unit are payable at the rate applicable to judgments from the date the claim arose through the date of decision or judgment, whichever is later.

(2)	Unless otherwise specified in a lawful contract between a procurement unit and the person making a bond claim against the procurement unit, the interest rate applicable to the bond claim is the rate described in Subsection 15-1-1(2).

(3)	This section does not apply to public assistance benefits programs.

Amended by Chapter 196, 2014 General Session

                    
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