South Dakota § 46A-9-86 Director or employee benefit from contract authorized--Direct benefit described.

South Dakota Statutes

§ 46A-9-86 — Director or employee benefit from contract authorized--Direct benefit described.

South Dakota·Title 46A WATER MANAGEMENT·Ch. 46A-8 WATER USER DISTRICTS

For purposes of § 46A-9-85 , a direct benefit from a contract is derived if the director or employee, the spouse of the director or employee, or any other person with whom the director or employee lives and commingles assets:

(1)Has more than a five percent ownership interest in an entity that is a party to the contract;

(2)Derives income, compensation, or commission directly from the contract or from an entity that is a party to the contract;

(3)Acquires real or personal property under the contract; or (4) Serves as a director on the board of a for-profit entity that:

(a)Derives income or a commission from the contract; or (b) Acquires real or personal property under the contract. A direct benefit is not derived solely from the value associated with any investment or

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For purposes of § 46A-9-85 , a direct benefit from a contract is derived if the director or employee, the spouse of the director or employee, or any other person with whom the director or employee lives and commingles assets: (1) Has more than a five percent ownership interest in an entity that is a party to the contract; (2) Derives income, compensation, or commission directly from the contract or from an entity that is a party to the contract; (3) Acquires real or personal property under the contract; or (4) Serves as a director on the board of a for-profit entity that: (a) Derives income or a commission from the contract; or (b) Acquires real or personal property under the contract. A direct benefit is not derived solely from the value associated with any investment or holdings by a director or employee, the spouse of the director or employee, or any other person with whom the director or employee lives and commingles assets.

South Dakota § 46A-9-86 (Director or employee benefit from contract authorized--Direct benefit described.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.