Indiana Code 4-13-2-5.2. Contracts to provide supplies to body corporate and politic; submission of bids by trusts; contents
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Sec. 5.2. (a) This section applies to a body corporate and politic.
(1) beneficiary of the trust; and
(b) Whenever a contract to provide supplies to the body corporate and politic is awarded by competitive sealed bidding, a bid submitted by a trust (as defined in IC 30-4-1-1(a)) must identify each:
Terms Used In Indiana Code 4-13-2-5.2
- 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.
(2) settlor empowered to revoke or modify the trust.
As added by P.L.336-1989(ss), SEC.3.