Each member of the board of directors may receive compensation at the rate of up to one hundred fifty dollars per day while attending meetings and shall be reimbursed for their actual and necessary expenses while engaged in official business. A director or officer named in this article 41 shall not be interested, directly or indirectly, in any manner, in any contract awarded or to be awarded by the board or in the profits to be derived from the contract, nor shall they receive any bonds, gratuity, or bribe. For any violation of this section, such officer commits a class 6 felony and shall be punished as provided in section 18-1.3-401. He or she shall also forfeit their office upon conviction.

Source: L. 05: p. 264, § 27. R.S. 08: § 3466. L. 21: p. 505, § 3. C.L. § 2005. CSA: C. 90, § 404. CRS 53: § 149-1-28. L. 59: p. 828, § 2. L. 61: p. 842, § 1. C.R.S. 1963: § 150-1-28. L. 77: Entire section amended, p. 1632, § 3, effective May 24; entire section amended, p. 885, § 67, effective July 1, 1979. L. 89: Entire section amended, p. 850, § 136, effective July 1. L. 2002: Entire section amended, p. 1553, § 336, effective October 1. L. 2006: Entire section amended, p. 71, § 2, effective July 1. L. 2025: Entire section amended, (SB 25-140), ch. 58, p. 244, § 2, effective August 6.

Editor's note: (1) The effective date for amendments made to this section by chapter 216, L. 77, was changed from July 1, 1978, to April 1, 1979, by chapter 1, First Extraordinary Session, L. 78, and was subsequently changed to July 1, 1979, by chapter 157, § 23, L. 79. See People v. McKenna, 199 Colo. 452, 611 P.2d 574 (1980).

(2) Section 5(2) of chapter 58 (SB 25-140), Session Laws of Colorado 2025, provides that the act changing this section applies to events and circumstances occurring on or after August 6, 2025.

Cross references: For the legislative declaration contained in the 2002 act amending this section, see section 1 of chapter 318, Session Laws of Colorado 2002.