No employee or member of a board of regents of a state educational institution shall have direct or indirect financial interest in any contract for building or improving any of that state educational institution or for the furnishing of supplies or services to that institution except as permitted pursuant to the University Research Park and Economic Development Act [N.M. Stat. Ann. Chapter 21, Article 28] or the New Mexico Research Applications Act N.M. Stat. Ann. § 53-7B-1 to 53-7B-10, or unless it complies with provisions of the Governmental Conduct Act [N.M. Stat. Ann. Chapter 10, Article 16] and the Procurement Code N.M. Stat. Ann. § 13-1-28 to 13-1-199.