3-23-3.1. Circumstances under which state authority, board, or commission member may have interest in contract.
Any elected or appointed state authority, board, or commission member may have an interest in a contract if:
(1)The member, upon learning of the interest subject to the provisions of this chapter or a transaction that may create an interest subject to the provisions of this chapter discloses the interest no later than the first meeting of the authority, board, or commission held after the first day of July of each year;
(2)The authority, board, or commission is notified of the contract and the member's role in the contract;
(3)The terms of the contract do not violate any other provision of law; and
(4)The disclosure is included in the minutes that are publicly available and are filed with the auditor-general and attorney general.
Each member shall receive a form, developed by the attorney general, for the purpose of annual disclosure of any interest and direct benefit covered by the provisions of this chapter. In addition to any interest in a contract and direct benefit covered by the provisions of this chapter, the member shall also disclose at least annually any ownership interest of five percent or greater in any entity that receives grant money from the state, either directly or by a pass-through grant, or that contracts with the state or any political subdivision for services. An authority, board, or commission member who has an interest in a contract pursuant to this section shall disclose the existence of a contract in which the member has an interest but for which authorization by the authority, board, or commission is not required for the person to have an interest in the contract. The auditor-general shall compile and present any disclosure annually for review by the Department of Legislative Audit and the Government Operations and Audit Committee.
Source: SL 2017, ch 31, §7.