105 IAC 11-3-15 Corporations

Sec. 15. (a) The department will not enter into a contract or approve a subcontract with any corporation unless the corporation is registered and in good standing to do business in Indiana by the Indiana secretary of state. If: (1) the corporation does not have authorization to do business in Indiana at the time its bid is submitted; and (2) its bid is low and accepted; valid evidence must be furnished within fifteen (15) days after the opening of bids showing that the authorization has been acquired. (b) Failure to become authorized to do business in Indiana and to submit valid evidence within the stated time will be considered cause for: (1) cancellation of the award; (2) forfeiture of the bid bond; and (3) a reduction in the bidder's qualification.