Louisiana Revised Statutes 15:862 – Officials and employees not to be personally interested in contracts; penalty
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Terms Used In Louisiana Revised Statutes 15:862
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
No official or employee of the Louisiana State Penitentiary shall be personally interested, directly or indirectly, in any contract, purchase, lease, or sale of lands, materials or supplies, or in any contract for work to be done.
Whoever violates this Section shall be fined not more than five hundred dollars or imprisoned for not more than six months, or both.
All contracts or agreements of this nature shall be null and void and of no binding effect against the state.