Indiana Code 8-1-11.1-4. Directors or trustees; adverse interest in contracts
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Terms Used In Indiana Code 8-1-11.1-4
- Contract: A legal written agreement that becomes binding when signed.
- Trustee: A person or institution holding and administering property in trust.
Sec. 4. No contract shall be made for the purchase or sale of any materials or supplies on behalf of said board of directors for utilities with any trustee or director, and no trustee nor director shall have any pecuniary interest in any such contract.
[Pre-Local Government Recodification Citation: 19-3-24-4.]
As added by Acts 1981, P.L.11, SEC.43.