3-23-2.1. Circumstances under which state authority, board, or commission member has interest in contract.
82 words·~1 min read·
/sd/title-3/chapter-3-23/3-23-2-1A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
An elected or appointed member of a state authority, board, or commission has an interest in a contract if the member, the member's spouse, or any other person with whom the member lives or commingles assets:
(1)Is employed by a party to the contract; or
(2)Receives more than nominal compensation or reimbursement for actual expenses for serving on the board of directors of an entity that derives income or commission directly from the contract or acquires property under the contract.