Indiana § 36-1-9.5-41 Factors not considered in determining net current assets

Indiana Statutes

§ 36-1-9.5-41 — Factors not considered in determining net current assets

Indiana § 36-1-9.5-41

Title 36LOCAL GOVERNMENT

Art. 1GENERAL PROVISIONS

Ch. 9.5Qualifications of Bidders for Certain Contracts

This text of Indiana § 36-1-9.5-41 (Factors not considered in determining net current assets) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 36-1-9.5-41 (2026).

Text

In determining net current assets, an entity may not consider the following:

(1)Notes and accounts receivable from affiliated business firms as assets of the applicant unless an audited financial statement showing the debtor has sufficient liquidity to discharge the debt is attached. However, an unaudited statement certified as correct by the debtor shall be accepted if an unaudited statement is submitted for qualification.

(2)Notes and accounts receivable from partners of a co-partnership or officers and stockholders of a corporation unless an audited financial statement is attached.

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In determining net current assets, an entity
may not consider the following:
(1) Notes and accounts receivable from affiliated business firms
as assets of the applicant unless an audited financial statement
showing the debtor has sufficient liquidity to discharge the debt
is attached. However, an unaudited statement certified as correct
by the debtor shall be accepted if an unaudited statement is
submitted for qualification.
(2) Notes and accounts receivable from partners of a
co-partnership or officers and stockholders of a corporation unless
an audited financial statement is attached.