IC 9-14.1-5-2 — Procurement system
Chapter 5. Audits, Budgets, and Procurement
Section text
Sec. 2. (a) Notwithstanding IC 5-16, IC 5-17-1, and IC 5-22, the commission may develop a system of procurement that applies only to procurement of equipment, materials, services, and goods required for the operation of license branches. (b) A system of procurement adopted under this section must provide that whenever: (1) a contract is awarded by acceptance of bids, proposals, or quotations; and (2) a trust (as defined in IC 30-4-1-1(a)) submits a bid, proposal, or quotation; the bid, proposal, or quotation must identify each beneficiary of the trust and each settlor empowered to revoke or modify the trust. (c) This section does not apply to the purchasing, leasing, or disposal of real property.
As added by P.L.198-2016, SEC.195.
Source: official publisher (2026 edition)