5-26-2. Deadlines for payments.
An agency which acquires property or services pursuant to a contract with a business shall pay for each complete delivered item of property or service on the date required by contract between the business and agency or, if no date for payment is specified by contract, within forty-five days after receipt and written acceptance of property or services and receipt of the invoice covering the delivered items or services.
Source: SL 1984, ch 41, §2; SL 1985, ch 45, §2; SL 1987, ch 61, §3; SL 1988, ch 59, §2.
Structure South Dakota Codified Laws
Title 5 - Public Property, Purchases and Contracts
Chapter 26 - Prompt Payment Act
Section 5-26-2 - Deadlines for payments.
Section 5-26-3 - Interest on overdue payments--Rate.
Section 5-26-3.1 - Payment of less than five dollars in interest prohibited.
Section 5-26-4 - Additional appropriations for interest prohibited.
Section 5-26-5 - Disputed payments exempt--Notice of dispute required.
Section 5-26-7 - Citation of chapter.
Section 5-26-8 - Exemptions of transactions between government agencies.