Section 21-28-24 - Contracts involving officers or employees of educational institutions and state agencies or political subdivisions. - New Mexico Statutes

21-28-24. Contracts involving officers or employees of educational institutions and state agencies or political subdivisions.

A research park corporation shall not enter into any contract involving services or property of a value in excess of twenty thousand dollars ($20,000) with an employee of the university or with a business in which the employee has a controlling interest, except as provided in Section 21-28-25 NMSA 1978 if the employee has a controlling interest, unless the president of the university or the president's designee makes a determination, in writing, that the employee is able to provide services that are not readily available from another person or is able to provide services that are less expensive or of higher quality than is otherwise available.