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45A.410 Inspection of contractor's place of business -- Audit of records.
(1)
(2)
(3)
The local public agency may inspect the plant or place of business of a
contractor or any subcontractor under any contract awarded or to be awarded
by the local public agency.
The local public agency may audit the books and records of any person who
has submitted cost or pricing data under KRS 45A.405, at any time until the
period of record retention as set forth in subsection (3) of this section shall
have expired. The right to audit hereunder shall only extend to those books
and records reasonably connected with cost or pricing data submitted under
KRS 45A.420, and such books and records shall be maintained by the
contractor or subcontractor for the period specified in subsection (3) of this
section.
The local public agency shall be entitled to audit the books and records of a
contractor or any subcontractor under any negotiated contract or subcontract
other than a firm fixed-price type contract, provided, however, that this
subparagraph shall not limit the right to audit as set forth in subsection (2) of
this section. Such books and records shall be maintained by the contractor for
a period of five (5) years from the date of final payment under the prime
contract and by the subcontractor for a period of five (5) years from the date of
final payment under the subcontract.
Effective:January 1, 1980
History: Created 1978 Ky. Acts ch. 110, sec. 83, effective January 1, 1980.
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