3-23-2.2. Circumstances under which state authority, board, or commission member does not derive direct benefit from or have interest in contract.

161 words·~1 min read·/sd/title-3/chapter-3-23/3-23-2-2

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A state authority, board, or commission member does not derive a direct benefit from or have an interest in a contract:

(1)Based solely on the value associated with the member's publicly-traded investments or holdings, or the investments or holdings of any other person with whom the member lives or commingles assets;

(2)By participating in a vote or a decision in which the member's only interest arises from an act of general application;

(3)If the member is a state employee and is authorized to enter into the contract pursuant to §§ 5-18A-17 through 5-18A-17.6 , inclusive;

(4)If the contract is for the sale of goods, or for maintenance or repair services, in the regular course of business at or below a price offered to all customers;

(5)If the contract is subject to a public bidding process; or

(6)If the contract is for the deposit of public funds in a financial institution as otherwise authorized by law.