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3-23-3 Conditions under which authority, board, or commission may authorize member to have intere...
     3-23-3.   Conditions under which authority, board, or commission may authorize member to have interest in or derive direct benefit from contract. Any elected or appointed authority, board, or commission may authorize an authority, board, or commission member to have an interest in a contract or to derive a direct benefit from a contract if:
             (1)      The authority, board, or commission member has provided full written disclosure to the authority, board, or commission;
             (2)      The authority, board, or commission has reviewed the essential terms of the transaction or contract and the authority, board, or commission member's role in the contract or transaction; and
             (3)      The transaction and the terms of the contract are fair, reasonable, and not contrary to the public interest.
     No member of a state authority, board, or commission may participate in or vote upon a decision of the state authority, board, or commission relating to a matter in which the member has an interest or derives a direct benefit.
     The authorization shall be in writing. Any authorization given pursuant to this section is a public record. Each authorization shall be filed with the auditor-general. The auditor-general shall compile the authorizations and present them annually for review by the Government Operations and Audit Committee. A member of an authority, board, or commission may comply with this section if: the authority, board, or commission puts on its regular meeting agenda an inquiry for conflicts disclosure prior to the consideration of any substantive matters; the member publicly discloses his or her interest in a contract, direct benefits, or other conflict with any matter on the agenda; the member is excused from discussion and consideration of the matter; the board determines the matter underlying the conflict is fair, reasonable, and not contrary to the public interest; and the disclosure is included in the minutes which are publicly available.

Source: SL 2016, ch 33, § 3.


Chapter 3-23

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