(1) A public servant commits failing to disclose a conflict of interest if he exercises any substantial discretionary function in connection with a government contract, purchase, payment, or other pecuniary transaction without having given seventy-two hours’ actual advance written notice to the secretary of state and to the governing body of the government which employs the public servant of the existence of a known potential conflicting interest of the public servant in the transaction with reference to which he is about to act in his official capacity.
(2) A potential conflicting interest exists when the public servant is a
director, president, general manager, or similar executive officer or owns or
controls directly or indirectly a substantial interest in any nongovernmental entity
participating in the transaction.
(3) Failing to disclose a conflict of interest is a class 2 misdemeanor.
L. 71: R&RE, p. 461, § 1. C.R.S. 1963: § 40-8-308. L. 79: (1) amended, p. 744, § 1, effective July 1.
