(a) A public officer, or an immediate family member, may not attempt to acquire, receive, apply for, be a party to, or have a personal or financial interest in a state grant, contract, lease, or loan if the public officer may take or withhold official action that affects the award, execution, or administration of the state grant, contract, lease, or loan.
(b) The prohibition in (a) of this section does not apply to a state grant, contract, or lease competitively solicited unless the officer
(1) is employed by the administrative unit awarding the grant, contract, or lease or is employed by the administrative unit for which the grant, contract, or lease is let; or
(2) takes official action with respect to the award, execution, or administration of the grant, contract, or lease.
(c) The prohibition in (a) of this section does not apply to a state loan if
(1) the public officer does not take or withhold official action that affects the award, execution, or administration of the loan held by the officer, or an immediate family member;
(2) the loan is generally available to members of the public; and
(3) the loan is subject to fixed eligibility standards.
(d) A public officer shall report in writing to the designated supervisor a personal or financial interest held by the officer, or an immediate family member, in a state grant, contract, lease, or loan that is awarded, executed, or administered by the agency the officer serves.