Whenever surplus real property or personal property is disposed of by acceptance of bids, a bid submitted by a trust must identify each:

1. (1) beneficiary of the trust; and

2. (2) settlor empowered to revoke or modify the trust.

   [Pre-2007 Higher Education Recodification Citation: 20-12-5-5(b) part.]

As added by P.L.2-2007, SEC.277.