Texas Local Government Code 326.052 – Trustee Interested in Contract
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(a) A trustee who is financially interested in a contract with the district, or a trustee who is an employee of a person that is financially interested in a contract with the district, shall disclose that fact to the other trustees. The disclosure shall be entered into the minutes of the meeting.
(b) A trustee who is financially interested in a contract may not vote on the acceptance of the contract or participate in the discussion on the contract.
Terms Used In Texas Local Government Code 326.052
- Contract: A legal written agreement that becomes binding when signed.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Trustee: A person or institution holding and administering property in trust.
(c) The failure of a trustee to disclose the trustee’s financial interest in a contract and to have the disclosure entered in the minutes invalidates the contract.