N.C. Gen. Stat. § 18C-150

Current through Session Law 2024-56
Section 18C-150 - Procurements

The Commission shall be exempt from Article 3 of Chapter 143 of the General Statutes but may use the services of the Department of Administration in procuring goods and services for the Commission. However, the Commission shall include in all contracts to be awarded by the Commission under this section a standard clause which provides that the State Auditor and internal auditors of the Commission may audit the records of the contractor during and after the term of the contract to verify accounts and data affecting fees and performance. The Commission shall not award a cost plus percentage of cost contract for any purpose. For purposes of this provision, "cost plus percentage of cost contract" is defined as a contract under which the contractor receives payment for indeterminate costs plus a stated percentage or amount of profit based upon such costs. This provision shall not apply to Commission contracts that require costs to be predetermined and approved by the Commission and a total not to exceed the amount specified in each contract to be paid to the contractor.

N.C. Gen. Stat. § 18C-150

Amended by 2011 N.C. Sess. Laws 326,s. 15-a, eff. 6/27/2011.
Amended by 2010 N.C. Sess. Laws 194,s. 1, eff. 10/1/2010.
Article title amended by 2009 N.C. Sess. Laws 357,s. 2, eff. 7/27/2009.
Added by 2005 N.C. Sess. Laws 344, s. 1, eff. 8/31/2005.