West Virginia Code 17-16F-8 – Financial interest in contracts prohibited; penalty
Current as of: 2023 | Check for updates
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No employee of the division may be financially interested, directly or indirectly, in any contract of any person with the division, or in the sale of any property, real or personal, to or from the division. This section does not apply to contracts or purchases of property, real or personal, between the division and any governmental agency. Violation of this subsection by a division employee will result in a misdemeanor, and upon conviction thereof, is punishable by a fine of not more than $1,000 or by imprisonment for not more than one year, or by both, together with costs of prosecution.
Terms Used In West Virginia Code 17-16F-8
- Contract: A legal written agreement that becomes binding when signed.
- Conviction: A judgement of guilt against a criminal defendant.
- Division: means the West Virginia Division of Multimodal Transportation Facilities. See West Virginia Code 17-16F-3
- Person: means any individual, firm, corporation, partnership, company, foreign or domestic association, including railroads, joint stock association, or body politic and includes any trustee, receiver, assignee, or other similar representative. See West Virginia Code 17-16F-3