If any director, officer, or employee of the authority shall be interested, either directly or indirectly, or shall be a director, officer, or employee of or have an ownership interest in, other than a noncontrolling stockholder interest, or the substantial equivalent thereof, in a lender or school, any firm or corporation interested, directly or indirectly, in any contract with the authority, except any agency, instrumentality, or political subdivision of the state, such interest shall be disclosed to and shall be set forth in the minutes of the authority; and the director, officer, or employee having such interest therein shall not participate on behalf of the authority or such party in the negotiation or the authorization of the contract. No provision of this part shall be construed, however, to prevent any otherwise eligible director, officer, or employee of the authority or member of his family from being eligible to apply for and receive financial aid assistance provided for under this part.
History. Code 1933, § 32-3715, enacted by Ga. L. 1980, p. 835, § 3.
Cross references.
Conflicts of interest involving state officers and employees generally, § 45-10-20 et seq.
Structure Georgia Code
Chapter 3 - Postsecondary Education
Article 7 - Scholarships, Loans, and Grants
Part 3 - Georgia Student Finance Authority
Subpart 1 - General Provisions
§ 20-3-311. Legislative Findings; Purposes of Authority
§ 20-3-313. Authority Created as Successor to Georgia Higher Education Assistance Authority
§ 20-3-314. Functions, Composition, Organization, and Conduct of Affairs of Board of Directors
§ 20-3-315. Authority Officers and Employees; Bonds
§ 20-3-317. Accounting System; Use of Funds; Payments to Commission
§ 20-3-318. Authority Administration Fund
§ 20-3-320. Audits of Authority; Distribution of Audit Reports
§ 20-3-321. School Audits; Program Reviews; Corrective Actions
§ 20-3-322. Contributions Deductible for Tax Purposes
§ 20-3-323. Conflicts of Interest Involving Directors, Officers, or Employees of Authority
§ 20-3-324. Authority Assigned to Commission
§ 20-3-325. Dissolution of Authority
§ 20-3-326. Venue of Proceedings Against Authority
§ 20-3-327. General Banking Business by Authority Prohibited