Sec. 2. (a) Notwithstanding
IC 5-16,
IC 5-17-1, and
IC 5-22, the commission may develop a system of procurement that applies only to procurement of equipment, materials, services, and goods required for the operation of license branches.
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Terms Used In Indiana Code 9-14.1-5-2
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Contract: A legal written agreement that becomes binding when signed.
(1) a contract is awarded by acceptance of bids, proposals, or quotations; and
(2) a trust (as defined in IC 30-4-1-1(a)) submits a bid, proposal, or quotation;
the bid, proposal, or quotation must identify each beneficiary of the trust and each settlor empowered to revoke or modify the trust.
(c) This section does not apply to the purchasing, leasing, or disposal of real property.
[Pre-2016 Revision Citation: 9-16-2-5.]
As added by P.L.198-2016, SEC.195.
