Indiana Code 36-1-9.5-38. Maximum aggregate rating; components; net current assets
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Sec. 38. (a) A contractor‘s maximum aggregate rating as determined from the statement will be the sum of the following rating components:
(2) The lesser of:
(1) Net current assets multiplied by ten (10).
Terms Used In Indiana Code 36-1-9.5-38
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- contractor: means an individual, a partnership, a firm, a limited liability company, a corporation, or other person contracting with or desiring to contract with an entity for performance of prescribed work. See Indiana Code 36-1-9.5-10
- entity: means the following:
Indiana Code 36-1-9.5-11
(A) the net book value of construction equipment assets multiplied by eight (8); or
(B) one-half (1/2) of the amount determined under subdivision (1).
(3) The lesser of:
(A) net fixed and other assets multiplied by two (2); or
(B) the sum of the amounts determined under subdivisions (1) and (2) multiplied by twenty-five hundredths (0.25).
(b) An entity shall determine accepted net current assets from the statement submitted. Accepted net current assets may include only those net current assets that are readily convertible into working capital.
As added by P.L.85-1991, SEC.3.