State agencies, including exempt agencies, may enter into contracts which contemplate the payment of interest, late charges, but only when such late charges are incurred sixty (60) days after payment is due, or carrying charges under such rules as may be promulgated by the State Procurement Director.
Structure Arkansas Code
Chapter 4 - State Accounting and Budgetary Procedures
Subchapter 7 - Expenditures Generally
§ 19-4-701. Fiscal periods of state
§ 19-4-702. Time limits for presenting vouchers
§ 19-4-703. Redemption of warrants
§ 19-4-704. No obligations without appropriations
§ 19-4-705. Obligations limited to funds available
§ 19-4-706. Interest and carrying charges
§ 19-4-707. Obligations for improvements
§ 19-4-708. Depletion of agency funds
§ 19-4-709. Statement of financial condition