§ 18-8-308 — Failing to disclose a conflict of interest

(1) A public servant
commits failing to disclose a conflict of interest if he exercises any substantial
discretionary function in connection with a government contract, purchase,
payment, or other pecuniary transaction without having given seventy-two hours'
actual advance written notice to the secretary of state and to the governing body of
the government which employs the public servant of the existence of a known
potential conflicting interest of the public servant in the transaction with reference
to which he is about to act in his official capacity.

(2) A potential conflicting interest exists when the public servant is a
director, president, general manager, or similar executive officer or owns or
controls directly or indirectly a substantial interest in any nongovernmental entity
participating in the transaction.

(3) Failing to disclose a conflict of interest is a class 2 misdemeanor.

Legislative History

Source: L. 71: R&RE, p. 461, � 1. C.R.S. 1963: � 40-8-308. L. 79: (1) amended, p. 744, � 1, effective July 1.