2005 North Carolina Code - General Statutes § 147-86.23. Interest and penalties.

§ 147‑86.23.  Interest and penalties.

A State agency shall charge interest at the rate established pursuant to G.S. 105‑241.1(i) on a past‑due account receivable from the date the account receivable was due until it is paid.  A State agency shall add to a past‑due account receivable a late payment penalty of no more than ten percent (10%) of the account receivable.  A State agency may waive a late‑payment penalty for good cause shown.  If another statute requires the payment of interest or a penalty on a past‑due account receivable, this section does not apply to that past‑due account receivable. (1993, c. 512, s. 1.)