A. If any director, officer or employee of the corporation or the foundation shall be interested either directly or indirectly or shall be an officer or employee of or have an ownership interest in any firm or corporation interested directly or indirectly in any contract with the corporation or foundation, except for any agency, instrumentality, department or political subdivision of the state, such interest shall be disclosed to and shall be set forth in the minutes of the corporation or foundation that is a party to the contract. The director, officer or employee having such interest shall not participate on behalf of the corporation or the foundation in the authorization of the contract.
B. No director, officer or employee of the corporation or the foundation or state officer shall accept any gratuities in connection with the issuance of bonds under the Educational Assistance Act [21-21A-1 NMSA 1978], nor shall any such individual be reimbursed for expenses incident to the issuing of bonds except such expenses as would be reimbursed to state officers and employees under the provisions of the Per Diem and Mileage Act [10-8-1 NMSA 1978].
C. Nothing in this section shall be construed as prohibiting an officer, director or employee of a financial institution from participating as a member of the board of directors of the foundation or corporation in setting general policies of the foundation or corporation, nor shall any provision of this section be construed as prohibiting a financial institution of New Mexico from making loans guaranteed pursuant to the provisions of the Educational Assistance Act because an officer, director or employee of the financial institution serves as a member of the board of directors of the foundation or corporation.
D. Any person who violates the provisions of this section shall be guilty of a misdemeanor.
A. If any director, officer or employee of the corporation or the foundation shall be interested either directly or indirectly or shall be an officer or employee of or have an ownership interest in any firm or corporation interested directly or indirectly in any contract with the corporation or foundation, except for any agency, instrumentality, department or political subdivision of the state, such interest shall be disclosed to and shall be set forth in the minutes of the corporation or foundation that is a party to the contract. The director, officer or employee having such interest shall not participate on behalf of the corporation or the foundation in the authorization of the contract.
B. No director, officer or employee of the corporation or the foundation or state officer shall accept any gratuities in connection with the issuance of bonds under the Educational Assistance Act [21-21A-1 NMSA 1978], nor shall any such individual be reimbursed for expenses incident to the issuing of bonds except such expenses as would be reimbursed to state officers and employees under the provisions of the Per Diem and Mileage Act [10-8-1 NMSA 1978].
C. Nothing in this section shall be construed as prohibiting an officer, director or employee of a financial institution from participating as a member of the board of directors of the foundation or corporation in setting general policies of the foundation or corporation, nor shall any provision of this section be construed as prohibiting a financial institution of New Mexico from making loans guaranteed pursuant to the provisions of the Educational Assistance Act because an officer, director or employee of the financial institution serves as a member of the board of directors of the foundation or corporation.
D. Any person who violates the provisions of this section shall be guilty of a misdemeanor.
A. If any director, officer or employee of the corporation or the foundation shall be interested either directly or indirectly or shall be an officer or employee of or have an ownership interest in any firm or corporation interested directly or indirectly in any contract with the corporation or foundation, except for any agency, instrumentality, department or political subdivision of the state, such interest shall be disclosed to and shall be set forth in the minutes of the corporation or foundation that is a party to the contract. The director, officer or employee having such interest shall not participate on behalf of the corporation or the foundation in the authorization of the contract.
B. No director, officer or employee of the corporation or the foundation or state officer shall accept any gratuities in connection with the issuance of bonds under the Educational Assistance Act [21-21A-1 NMSA 1978], nor shall any such individual be reimbursed for expenses incident to the issuing of bonds except such expenses as would be reimbursed to state officers and employees under the provisions of the Per Diem and Mileage Act [10-8-1 NMSA 1978].
C. Nothing in this section shall be construed as prohibiting an officer, director or employee of a financial institution from participating as a member of the board of directors of the foundation or corporation in setting general policies of the foundation or corporation, nor shall any provision of this section be construed as prohibiting a financial institution of New Mexico from making loans guaranteed pursuant to the provisions of the Educational Assistance Act because an officer, director or employee of the financial institution serves as a member of the board of directors of the foundation or corporation.
D. Any person who violates the provisions of this section shall be guilty of a misdemeanor.
