Governor to approve financial settlement agreements.
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(1) Before legally binding the state by executing a financial settlement agreement that might cost government entities more than $100,000 to implement, an agency shall submit the proposed financial settlement agreement to the governor for the governor's approval or rejection.
(2) The governor shall approve or reject each financial settlement agreement.
(3)
(a) If the governor approves the financial settlement agreement, the agency may execute the agreement.
(b) If the governor rejects the financial settlement agreement, the agency may not execute the agreement.
(4) If an agency executes a financial settlement agreement without obtaining the governor's approval under this section, the governor may issue an executive order declaring the settlement agreement void.