Application of section; procurement contracts; trust bid;

proposal or quotation Sec. 3. (a) This section applies whenever a contract for the procurement of property for the commission is awarded 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-2007 Higher Education Recodification Citation: 20-12-0.5-8.5.] As added by P.L.2-2007, SEC.259.