Contracts; prohibition of pecuniary interest of board members

Sec. 5. An executive board member may not have a pecuniary interest in any contract, employment, purchase, or sale made under this chapter. A transaction made in which a member has such an interest is void, and the member is subject to removal as provided in this chapter. [Pre-2007 Higher Education Recodification Citation: 20-12-30.3-5.] As added by P.L.2-2007, SEC.191.