Each university contract must require the prime contractor to pay any subcontractor within ten days of the prime contractor's receipt of payment from the university for undisputed services provided by the subcontractor. The contract must require the prime contractor to pay interest of 1-1/2 percent per month or any part of a month to the subcontractor on any undisputed amount not paid on time to the subcontractor. The minimum monthly interest penalty payment for an unpaid balance of $100 or more is $10. For an unpaid balance of less than $100, the prime contractor shall pay the actual penalty due to the subcontractor. A subcontractor who prevails in a civil action to collect interest penalties from a prime contractor must be awarded its costs and disbursements, including attorney fees, incurred in bringing the action.
1990 c 541 s 16
Structure Minnesota Statutes
Chapters 135A - 137 — Postsecondary Education
Chapter 137 — University Of Minnesota
Section 137.02 — Powers And Duties Of Board Of Regents.
Section 137.021 — Acceptance Of Federal Money.
Section 137.022 — Permanent University Fund.
Section 137.0225 — University Promise Scholarship.
Section 137.0226 — Scholarship Funding Program.
Section 137.023 — University Student On Board Of Regents.
Section 137.024 — Congressional Districts Represented On Board Of Regents.
Section 137.0245 — Regent Candidate Advisory Council.
Section 137.0246 — Regent Nomination And Election.
Section 137.025 — Appropriations; Payment; Investment.
Section 137.0251 — Budgetary Information.
Section 137.0252 — Appropriation; Contract Buyout.
Section 137.027 — Appropriation; Fringe Benefits.
Section 137.028 — Biennial Budget Request; University Of Minnesota.
Section 137.04 — Library To Get Copies Of State Publications.
Section 137.09 — Board Of Regents Not To Exceed Appropriations; Penalty.
Section 137.10 — Refund Of Tuition To Students In Certain Cases.
Section 137.105 — Undergraduate Tuition Guarantee Plan.
Section 137.12 — Peace Officers; Appointment; Power Of Arrest.
Section 137.16 — Morris Branch.
Section 137.17 — Rochester Branch.
Section 137.22 — Higher Education Act Of 1965; Receipts.
Section 137.31 — Procurement From Small Businesses.
Section 137.32 — Minnesota Couples On The Brink Project.
Section 137.34 — Program Established.
Section 137.341 — Farm Safety Specialist Position.
Section 137.342 — Research Center For Agricultural Health And Safety.
Section 137.35 — Targeted Businesses.
Section 137.36 — Prompt Payment To Subcontractors.
Section 137.37 — Off-campus Sites And Centers.
Section 137.38 — Education And Training Of Primary Care Physicians.
Section 137.39 — Medical School Initiatives.
Section 137.40 — Residency And Other Initiatives.
Section 137.42 — Grants For Area Health Education Center Programs.
Section 137.43 — Substitute Physician Demonstration Project.
Section 137.44 — Health Professional Education Budget Plan.
Section 137.45 — Program For Students With Intellectual And Developmental Disabilities.
Section 137.47 — Fetal Tissue Research.
Section 137.51 — Land Protection And Transfer.
Section 137.52 — Contamination Remediation; Report.
Section 137.53 — Activities; Contracts.
Section 137.54 — Conditions For Payment To University.
Section 137.55 — Public Use Of Stadium.
Section 137.56 — Environmental Review.
Section 137.57 — No Full Faith And Credit.
Section 137.58 — Mitigation Fund.
Section 137.60 — Eminent Domain.
Section 137.63 — Biomedical Science Research Facilities Funding Program.
Section 137.64 — Conditions For Payments To University.
Section 137.65 — No Full Faith And Credit.
Section 137.66 — Minnesota Discovery, Research, And Innovation Economy Funding Program.
Section 137.67 — Minnesota Biomedicine And Bioethics Innovation Grants.