(a) "Public body" has the meaning given that term in ORS 174.109.
(b) "Public contract" has the meaning given that term in ORS 279A.010.
(2) Except as provided in subsection (4) of this section, a person who ceases to hold a position as a public official may not have a direct beneficial financial interest in a public contract described in subsection (3) of this section for two years after the date the contract was authorized.
(3) Subsection (2) of this section applies to a public contract that was authorized by:
(a) The person acting in the capacity of a public official; or
(b) A board, commission, council, bureau, committee or other governing body of a public body of which the person was a member when the contract was authorized.
(4) Subsection (2) of this section does not apply to a person who was a member of a board, commission, council, bureau, committee or other governing body of a public body when the contract was authorized, but who did not participate in the authorization of the contract. [2007 c.877 §23a; 2009 c.689 §4a]