No board member, business manager, chief financial officer, superintendent, chief executive officer, or other person with the authority to enter into a contract or spend money in an amount greater than five thousand dollars of a school district, cooperative education service unit, or jointly governed education service entity that receives money from or through the state may have an interest in a contract nor receive a direct benefit from a contract in amount greater than five thousand dollars or multiple contracts in an amount greater than five thousand dollars with the same party within a twelve-month period to which the school district or cooperative education service unit is a party except as provided in § 3-23-8.

Source: SL 2016, ch 33 , § 6; SL 2017, ch 31 , § 10; SL 2017, ch 74 , § 1; SL 2021, ch 73 , § 23.