WILLIAM DONALD SCHAEFER, Governor

Ch. 48

(II) OCCURS BEFORE THE CONCLUSION OF PRICE
DISCUSSIONS.

(E) PRICE INCREASES.

EACH PROCUREMENT CONTRACT, CHANGE ORDER, OR CONTRACT
MODIFICATION FOR WHICH A COST AND PRICE CERTIFICATE IS REQUIRED
SHALL CONTAIN A PROVISION THAT THE PRICE, INCLUDING PROFIT OR
FEE, SHALL BE REDUCED TO EXCLUDE ANY SIGNIFICANT PRICE INCREASES
IN A COMPONENT THAT RESULT BECAUSE THE CONTRACTOR PROVIDED COST
OR PRICE INFORMATION THAT, AS OF THE DATE SPECIFIED UNDER
SUBSECTION (D)(3) OF THIS SECTION, WAS INACCURATE, INCOMPLETE, OR
NOT CURRENT.

REVISOR'S NOTE: Subsection (a) of this section formerly
appeared as SF § ll-101(r).

The only changes are in style.

Subsections (b) through (e) of this section are new
language derived without substantive change from
former SF § 11-120.

Subsection (d)(3)(l) of this section is revised in the
active voice to clarify that the "procurement officer"
is responsible to determine the "date" in conjunction
with the offeror or contractor, since that action
seems to fall within the powers contemplated for a
"procurement officer", as defined in § ll-101(n) of
this article.

Defined terms: "Change order" § 13-201

"Contract modification" § 13-201 "Person" § 11-101

"Procurement contract" § 11-101

"Procurement officer" § 11-101 "State" § 11-101

13-221. DISCLOSURES TO SECRETARY OF STATE.

(A) SCOPE OF SECTION.

THIS SECTION IS BROADLY APPLICABLE TO ALL PROCUREMENTS BY
THE STATE.

(B) "BENEFICIAL OWNERSHIP" DEFINED.

IN THIS SECTION, "BENEFICIAL OWNERSHIP" MEANS:

(1) AN OWNERSHIP INTEREST OF AT LEAST 5% IN A
BUSINESS;

(2) AN OWNERSHIP INTEREST OF AT LEAST 5% IN AN ENTITY
IN A CHAIN OF PARENT AND SUBSIDIARY ENTITIES, ANY OF WHICH

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