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LAWS OF MARYLAND

Ch. 720

received combined wages, salaries, or bonuses of an average
of at least $5,000 a year over the 3 previous years.

(2) [In this section, any financial interest of

an individual in a transaction not included in the

description of "direct financial interest" in paragraph (1)
of this subsection is considered an indirect financial
interest.] THE PROVISIONS OF SECTION 5-110 OF THIS TITLE
SHALL APPLY TO ALL CONTRACTS, PURCHASES, AND TRANSACTIONS
CONSUMATED UNDER THIS SECTION.

(b) (1) Except as provided in this subsection, a
county superintendent may not have a direct [or
indirect] financial interest in any contract or purchase
to which the county board in his county is a party.

(2)  A county superintendent who knows or
reasonably may be expected to know that he has a direct OR
INDIRECT financial interest in any contract or purchase in
which the county board in his county is or may be in any way
concerned, promptly shall disclose IN WRITING this interest
to the State Superintendent AND TO THE COUNTY BOARD.

(3)  If the transaction has been approved in
writing by the State Superintendent, and if disclosure is
made and the county superintendent disqualifies himself from
acting on the transaction on behalf of the county board, the
transaction may be completed if it involves:

(i) Making a deposit by the county board
in a bank in which the county superintendent has a [direct]
financial interest;

(ii) The purchase of gas, electricity, or
other public utility services from a company in which the
county superintendent has a financial interest;

(iii) Making a contract after ANY REQUIRED
publicly advertised competitive bidding with a firm,
corporation, or association in which the county
superintendent has a [direct] financial interest; or

(iv) Making a contract to compose
threatened or actual litigation undertaken between the
county board and the county superintendent.

(c) (1) Except as provided in this subsection, a
county board member may not have a direct [or indirect]
financial interest in any contract or purchase to which the
county board in his county is a party.

(2) A county board member who knows or
reasonably may be expected to know that he has a direct OR
INDIRECT financial interest in any contract or purchase in
which the county board in his county is or may be in any way
concerned, promptly shall disclose IN WRITING this interest
to the county board. THE DISCLOSURE SHALL BE NOTED IN THE