Nevada Revised Statutes 408.353 – Interest of member of Board, officer or employee prohibited; exception; voidability; penalties
1. Except as otherwise provided in subsection 2, all members of the Board, directors and other officers or employees of the Department are prohibited from having any interest, directly or indirectly, in any contract entered into by the Department.
Attorney's Note
Under the Nevada Revised Statutes, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| gross misdemeanor | up to 364 days | up to $2,000 |
Terms Used In Nevada Revised Statutes 408.353
- Contract: A legal written agreement that becomes binding when signed.
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
2. If the Director of the Department deems it necessary to enter into a contract with one of the persons described in subsection 1, the Director shall submit the proposed contract to the State Board of Examiners for approval. Upon its approval, the Director may enter into the contract.
3. Any contract made in violation of this section may be declared void at the instance of the State or any person interested in the contract except a person prohibited from being interested in it.
4. Any person violating the provisions of this section, directly or indirectly, is guilty of a gross misdemeanor, forfeits his or her office and is forever disqualified from holding any public office in this state.