A contractor desiring to offer bids for the performance of contracts for which an entity requires prequalification must file a statement of experience and financial condition using a form prescribed by the state board of accounts. The statement must include a complete report of the following of the prospective bidder:

1. (1) Financial ability.
2. (2) Adequacy of plant and equipment.
3. (3) Organization and experience.

As added by P.L.85-1991, SEC.3.