South Dakota Codified Laws 3-23-7.1. Officials with contract authority–Description of interest in contract
Current as of: 2023 | Check for updates
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A person described in § 3-23-6 has an interest in a contract if the person, the person’s spouse, or any other person with whom the person lives and commingles assets:
(1) Is employed by a party to any contract with the school district or cooperative education service unit; or
Terms Used In South Dakota Codified Laws 3-23-7.1
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
(2) Receives more than nominal compensation or reimbursement for actual expenses for serving on the board of directors of an entity that derives income or commission directly from the contract or acquires property under the contract.
Source: SL 2017, ch 31, § 12; SL 2021, ch 73, § 25.