3-23-1. State authority, board, and commission members prohibited from having interest in or deriving direct benefit from contract.

No elected or appointed member of a state authority, board, or commission may have an interest in or derive a direct benefit from any contract:

(1)    With the state agency to which the authority, board, or commission is attached for reporting or oversight purposes that requires the expenditure of government funds;

(2)    With the state that requires the approval of the authority, board, or commission and the expenditure of government funds; or

(3)    With a political subdivision of the state if the political subdivision approves the contract and is under the regulatory oversight of the authority, board, or commission, or the agency to which the authority, board, or commission is attached for reporting or oversight purposes.

No elected or appointed member of a state authority, board, or commission may derive a direct benefit from any contract as provided under this section for one year after the end of the member's term on the authority, board, or commission, except as provided in § 3-23-3 or 3-23-4.

Source: SL 2016, ch 33, § 1; SL 2017, ch 31, § 2.