Terms Used In Indiana Code > Title 5 > Article 16 > Chapter 11 - Disclosure of Economic Interests by Consultants in Public Projects

• clerk: has the meaning set forth in IC 36-1-2-4. See Indiana Code 5-16-11-1
• consultant: means an individual who, under a contract with the state or a political subdivision, does either of the following for the state or the political subdivision:

  Indiana Code 5-16-11-2

• Contract: A legal written agreement that becomes binding when signed.
• entity: refers to a person that:

  Indiana Code 5-16-11-3.5

• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• fiscal body: has the meaning set forth in IC 36-1-2-6. See Indiana Code 5-16-11-4
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• political subdivision: has the meaning set forth in IC 36-1-2-13. See Indiana Code 5-16-11-5
• Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5