ARM 42.12.501. DEFINITIONS

The following definitions apply to this subchapter: (1) "Bidder" means an individual or business entity. (2) "Competitive bid form" means an electronic form provided by the department and submitted by a bidder, to enter a competitive bidding process. (3) "Competitive bidding" means a process to select a bidder to submit an application for licensure. (4) "Minimum bid amount" means the lowest acceptable bid amount. The minimum bid amount shall be set by the department at 75 percent of the market value of licenses of the same type and privileges that have sold within the quota area or similar quota area. (5) "Pivotal straight line" means a line that is created from the center point of two overlapping incorporated cities' or incorporated towns' boundaries and extends outward in a manner that separates the two quota areas as close to equidistant as possible.