(a) A director, agent, or employee of an authority may not:
(1) contract with the authority; or
(2) be directly or indirectly interested in:
(A) a contract with the authority; or
(B) the sale of property to the authority.
(b) A person who violates Subsection (a) is liable for a civil penalty to the authority in an amount not to exceed $1,000.

Terms Used In Texas Transportation Code 370.260

  • 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
  • Property: means real and personal property. See Texas Government Code 311.005
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