Sec. 4.
A contract, grant, or loan that a board enters into with or awards to a board member or an immediate family member of a board member with an interest in the matter is adopted in violation of conflict of interest standards and is voidable at the option of the department unless the affected board member complies with all of the following:
(a) Except as expressly permitted by applicable law, the affected board member has abstained from participating in the discussion or vote on the matter.
(b) The affected board member immediately upon knowledge or discovery discloses the pecuniary, contractual, business, employment, or personal interest in the contract, grant, or loan in the manner required by this act and other applicable law.
History: 2014, Act 96, Eff. July 1, 2014