Sec. 3. (a) A
purchaser may not make any purchase or
contract for the purchase of any material, equipment, goods, or supplies or the
lease of equipment unless the bid, offer, proposal, estimate, or contract of any person, firm, limited liability company, or
corporation offering any and all such articles for sale or equipment for lease is executed upon the forms prescribed by the state board of accounts setting forth the quantity, quality, and purchase or lease price of every article and thing proposed for sale or lease.
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Terms Used In Indiana Code 5-17-1-3
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- purchaser: as used in this chapter includes persons who make leases for equipment. See Indiana Code 5-17-1-1
(1) beneficiary of the trust; and
(2) settlor empowered to revoke or modify the trust.
Formerly: Acts 1945, c.99, s.3. As amended by Acts 1977, P.L.61, SEC.3; P.L.336-1989(ss), SEC.16; P.L.8-1993, SEC.70.
