Bids, proposals, or quotations submitted by trust

Sec. 5. (a) This section applies to the award of a contract under this chapter for the procurement of property by acceptance of bids, proposals, or quotations. (b) A bid, proposal, or quotation submitted by a trust (as defined in IC 30-4-1-1(a)) must identify each: (1) beneficiary of the trust; and (2) settlor empowered to revoke or modify the trust. [Pre-1993 Recodification Citation: 16-12.1-3-3.5.] As added by P.L.2-1993, SEC.5.