33-1811. Board of directors; contracts;
conflict
If any contract, decision or other action for compensation taken by or on behalf of
the board of directors would benefit any member of the board of directors or any person
who is a parent, grandparent, spouse, child or sibling of a member of the board of
directors or a parent or spouse of any of those persons, that member of the board of
directors shall declare a conflict of interest for that issue. The member shall declare
the conflict in an open meeting of the board before the board discusses or takes action
on that issue and that member may then vote on that issue. Any contract entered into in
violation of this section is void and unenforceable.
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