Exemption for Transactions by Family Owned Business When University System Employee Has Interest; Requirements

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  7. Exemption for Transactions by Family Owned Business When University System Employee Has Interest; Requirements

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Subsection (a) of Code Section 45-10-23 and paragraph (2) of subsection (a) of Code Section 45-10-24 shall not apply to a transaction with a unit of the University System of Georgia by a family owned business in which an employee of the university system or a member of the employee's family has an ownership interest where all of the following apply:

  1. The employee or one or more members of the employee's family or both have an ownership interest in a family owned business, but the employee is not actively engaged in the day-to-day management of the business;
  2. The employee is employed by a department of the unit of the university system in a position below that of department head; and
  3. The transaction is:
    1. With a unit of the university system different than the unit employing the employee; or
    2. With a department of the employing unit of the university system different than the department employing the employee.

(Code 1981, §45-10-24.1, enacted by Ga. L. 2003, p. 516, § 1.)


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