Code of Virginia
Chapter 13 - General Assembly Conflicts of Interests Act
§ 30-125. Invalidation of contract; recision of sales

A. Any contract made in violation of § 30-103 or § 30-105 may be declared void and may be rescinded by the contracting or selling governmental authority within five years of the date of the contract. In cases in which the contract is invalidated, the contractor shall retain or receive only the reasonable value, with no increment for profit or commission, of the property or services furnished prior to the date of receiving notice that the contract has been voided. In cases of recision of a contract of sale, any refund or restitution shall be made to the contracting or selling governmental agency.
B. Any purchase made in violation of § 30-103 or § 30-105 may be rescinded by the contracting or selling governmental agency within five years of the date of the purchase.
1987, Sp. Sess., c. 1, § 2.1-639.56; 2001, c. 844.

Structure Code of Virginia