§ 74-502 — REMOTE INTERESTS

Idaho § 74-502

• Jurisdiction: Idaho
• Title 74: TRANSPARENT AND ETHICAL GOVERNMENT
• Ch. 5: PROHIBITIONS AGAINST CONTRACTS WITH OFFICERS

Text

(1) A public officer shall not be deemed to be interested in a contract, within the meaning of section 74-501, Idaho Code, if he has only a remote interest in the contract and if the fact and extent of such interest is disclosed to the body of which he is an officer and noted in the official minutes or similar records prior to the formation of the contract, and thereafter the governing body authorizes, approves, or ratifies the contract in good faith by a vote of its membership sufficient for the purpose without counting the vote or votes of the officer having the remote interest. As used in this section, "remote interest" means:
(a) That of a nonsalaried officer of a nonprofit corporation; or
(b) That of an employee or agent of a contracting party where the compensation of such employee or agent consists entirely of fixed wages or salary; or
(c) That of a landlord or tenant of a contracting party; or
(d) That of a holder of less than one percent (1%) of the shares of a corporation or cooperative which is a contracting party.
(2) Although a public official’s interest in a contract may be only remote, a public official shall not influence or attempt to influence any other officer of the board of which he is an officer to enter into the contract. Violation of the provisions of this subsection shall be a misdemeanor as provided in section 74-509, Idaho Code. Any contract created or entered into in violation of the provisions of this subsection shall be void.

Legislative History

[74-502, added 2015, ch. 140, sec. 5, p. 377.]