2006 Utah Code - 17A-2-1050 — Conflict of interests prohibited -- Disclosure -- Violation -- Penalty.

     17A-2-1050.   Conflict of interests prohibited -- Disclosure -- Violation -- Penalty.
     (1) As used in this section, "relative" means any parent, spouse, child, grandparent, grandchild, great grandparent, great grandchild, or sibling of a trustee, officer, or employee.
     (2) Except as provided in this section, a trustee or any other officer or employee of the district may not be interested in any manner, directly or indirectly, in any contract or in the profits derived from any contract:
     (a) awarded by the board of trustees; or
     (b) made by any officer or employee pursuant to discretionary authority vested in him.
     (3) Notwithstanding Subsection (2), when a trustee or other officer or employee of the district is a stockholder, bondholder, director, or other officer or employee of a corporation contracting with the district, the district may contract with that corporation for its general benefit unless the trustee, officer, or employee of the district owns or controls, directly or indirectly, stock or bonds in an amount greater than 5% of the total amount of outstanding stock or bonds.
     (4) (a) (i) A trustee, officer, or employee of the district who has, or whose relative has, a substantial interest in any contract, sale, purchase, or service to the district shall disclose that interest to the board of trustees of the district in a public meeting of the board.
     (ii) The board of trustees of the district shall disclose that interest in the minutes of its meeting.
     (b) A trustee, officer, or employee of the district who has, or whose relative has, a substantial interest in any contract, sale, purchase, or service to the district may not vote upon or otherwise participate in any manner as a trustee, officer, or employee in the contract, sale, or purchase.
     (5) A trustee, officer, or employee of the district, in contemplation of official action by himself or by the district or in reliance on information to which he has access in his official capacity and which has not been made public, commits misuse of official information if he:
     (a) acquires a pecuniary interest in any property, transaction, or enterprise that may be affected by the information or official action;
     (b) speculates or wagers on the basis of the information or official action; or
     (c) aids, advises, or encourages another to do so with intent to confer upon any person a special pecuniary benefit.
     (6) Each trustee, officer, and employee who violates this section:
     (a) is guilty of a class B misdemeanor; and
     (b) if convicted, his board appointment or district employment is terminated.

Amended by Chapter 254, 2000 General Session

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