California · Public Utilities Code - PUC

PUC §12722: Neither the general manager nor any director of the district shall in any manner be interested, directly or indirectly, in any contract awarded or to be awarded by the board, or in the profits to be d

Misdemeanor

What this law says, in plain English

District managers and directors cannot have financial interest in board contracts. Violation is a misdemeanor resulting in forfeiture of office; exception for corporate ownership under 1%.

Read the full statutory text

Neither the general manager nor any director of the district shall in any manner be interested, directly or indirectly, in any contract awarded or to be awarded by the board, or in the profits to be derived therefrom. Any violation of this provision is a misdemeanor, and conviction shall work a forfeiture of office. This section has no application to contracts awarded to corporations in which such officer owns less than 1 percent of the entire capital stock.

Verify at the official source: California legislative text

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