The chief procurement officer, the head of a purchasing agency, or a designee of either officer may require that: (1) the proposed contractor's accounting system shall permit timely development of all necessary cost data in the form required by the specific contract type contemplated; (2) the proposed contractor's accounting system is adequate to allocate costs in accordance with generally accepted accounting principles. HISTORY: 1981 Act No. 148, Section 1; 1997 Act No. 153, Section 1.
South Carolina Legal Code