Indiana Code 5-1-17.5-23. Director’s interest in contracts or in sale or lease of property prohibited

Sec. 23. (a) A director of the commission who knowingly has an interest:

(1) in any contract with the commission; or

Under the Indiana Code, punishments for crimes depend on the classification. In the case of this section:

Class	Prison	Fine
Class A misdemeanor	up to 1 year	up to $5,000

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authority: refers to the Indiana finance authority. See Indiana Code 5-1-17.5-4
commission: refers to the Indiana motorsports commission created by this chapter. See Indiana Code 5-1-17.5-9
Contract: A legal written agreement that becomes binding when signed.
department: refers to the department of state revenue. See Indiana Code 5-1-17.5-10
Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
political subdivision: has the meaning set forth in IC 36-1-2-13. See Indiana Code 5-1-17.5-13
Property: includes personal and real property. See Indiana Code 1-1-4-5

(2) in the sale or lease of any real or personal property to the commission;

commits a Class A misdemeanor. All such contracts or leases are void.

(b) This section does not apply to contracts for purchases of property, real or personal, between the commission and:

(1) the authority;

(2) any political subdivision; or

(3) any department or agency of the state.

As added by P.L.233-2013, SEC.5.