2006 Utah Code - 17A-2-843 — Interest of trustees or employees in contracts.

     17A-2-843.   Interest of trustees or employees in contracts.
     Except as herein provided, no trustee or any other officer or employee of the district may in any manner be interested, directly or indirectly, in any contract awarded or to be awarded by the board of trustees, or made or to be made by such officer or employee pursuant to discretionary authority vested in the officer or employee, or in the profits to be derived therefrom. Notwithstanding the fact that such trustee or other officer or employee of the district may be a stockholder or bondholder or director or other officer or employee of a corporation contracting with the district, contracts may be made with such corporation for its general benefit unless such trustee or officer or employee of the district owns or controls, directly or indirectly, stock or bonds to an amount exceeding 5% of the total amount of the stock or bonds, respectively, of such contracting corporation issued and outstanding. For any violation of this section such trustee or other officer or employee of the district shall be considered guilty of a misdemeanor, and such conviction shall work a forfeiture of office, or employment, and the trustee or other officer or employee shall be punished by a fine not exceeding $500, or by imprisonment in the county jail not exceeding six months, or by both such fine and imprisonment.

Amended by Chapter 254, 2000 General Session