3-23-7.2. Circumstances under which local board members and others with authority to contract derive direct benefit from or have interest in contract. A person described in § 3-23-6 does not derive a direct benefit from or have an interest in a contract:

(1) Based solely on the value associated with the person's publicly-traded investments or holdings, or the investments or holdings of any other person with whom the board member, business manager, chief financial officer, superintendent, or chief executive officer lives or commingles assets;

(2) By participating in a vote or a decision in which the person's only interest arises from an act of general application;

(3) Based on the person receiving income as an employee or independent contractor of a party with whom the local service agency, school district, or cooperative education service unit has a contract, unless the person receives compensation or a promotion directly attributable to the contract, or unless the person is employed by the party as a board member, executive officer, or other person working for the party in an area related to the contract;

(4) If the contract is for the sale of goods or services, or for maintenance or repair services, in the regular course of business at a price at or below a price offered to all customers;

(5) If the contract is subject to a public bidding process;

(6) If the contract is with the official depository as set forth in § 6-1-3;

(7) Based solely on the person receiving nominal income or compensation, a per diem authorized by law or reimbursement for actual expenses incurred;

(8) If the contract or multiple contracts with the same party within a twelve-month period with whom the local service agency, school district, or cooperative education service unit contracts in an amount less than five thousand dollars.Source: SL 2017, ch 31, § 13.