(a)  No state vendor shall provide goods or services for less than fair market value for the personal use of a procurement official of a state agency if the vendor has sold goods and services during the preceding twenty-four (24) months to the state agency or if the vendor knows or has reason to know he or she will be submitting a bid or making a proposal for the sale of goods or services within the succeeding twenty-four (24) months to the state agency.

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Terms Used In Rhode Island General Laws 36-14.1-2

  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Procurement official: means an elected or appointed state official or employee who has the authority to make decisions concerning the purchasing of goods or services for a state agency or who has supervisory authority over the person empowered to make decisions concerning the purchase of goods or services for the state agency. See Rhode Island General Laws 36-14.1-1
  • State agency: means a branch, department, division, agency, commission, board, office, bureau, or authority of the government of the state of Rhode Island. See Rhode Island General Laws 36-14.1-1
  • State vendor: means :

    (i)  A person or business entity that sells goods or provides services to any state agency;

    (ii)  A person or business entity which has an ownership interest of ten percent (10%) or more in a business entity that sells goods or provides services to any state agency; or

    (iii)  A business entity that is a parent or subsidiary of a business entity that sells goods or provides services to any state agency. See Rhode Island General Laws 36-14.1-1

(b)  No procurement official of a state agency shall accept goods or services for his or her personal use for less than fair market value from a state vendor who has sold goods or services to the agency during the preceding twenty-four (24) months or who the procurement official knows or has reason to know will be submitting a bid or making a proposal for the sale of goods or services to the agency within the succeeding twenty-four (24) months.

(c)  The prohibition set forth in subsection (a) of this section shall not apply to goods or services having a fair market value of less than one hundred dollars ($100).

History of Section.
P.L. 1987, ch. 487, § 1.