GA Code § 45-10-40 (2021)
2021 Georgia Code|Title 45 - Public Officers and Employees|Chapter 10 - Codes of Ethics and Conflicts of Interest|Article 2 - Conflicts of Interest|Part 2 - Contracts of Officers of State Institutions With State Institutions|§ 45-10-40. Contracting With State Institutions Not Allowed; Exceptions

 No member of the Board of Regents of the University System of Georgia or of the Board of Human Services, no trustee or other officer of any institution which is wholly or in part supported by state funds, and no partnership of which such person is a member shall make any contract with the governing board or trustees of such institution or any officer of such institution for the sale and purchase of merchandise or supplies for such institution whereby profit shall accrue to such board member or trustee or such partnership of which such person is a member. Such trustee or officer of such institution shall not make any profit or receive any money for the sale, handling, or disposal of any crop or crops or property of such institution. Such member, trustee, or other officer of such institution shall not make or be interested in any contract for supplies or merchandise for such institution when such contract or the making of the same is wholly or in part made or influenced by the action of the board governing such institution or the trustees thereof or is controlled by any officer of such institution; and any and all such contracts are declared to be illegal and void, provided that any such contracts as are described in this Code section may be made with a corporation of which any such board member or trustee is a stockholder if such member or trustee does not vote on or participate in the making of such contract. No board member or trustee of such institution shall be prohibited from making contracts for furnishing supplies to the students or faculty of such institution for their individual use.   (Ga. L. 1918, p. 265, § 1; Code 1933, § 89-904; Ga. L. 1990, p. 8, § 45; Ga. L. 2009, p. 453, § 2-3/HB 228.)   OPINIONS OF THE ATTORNEY GENERAL   Transactions between members of Board of Regents and University System prohibited.   - Business transactions between any member of the Board of Regents and the University System of Georgia are prohibited absent a statutory exception permitting the transaction, and then only if there is no common law conflict creating a breach of the member's constitutional fiduciary duty. 2004 Op. Att'y Gen. No. 2004-7.   RESEARCH REFERENCES   Am. Jur. 2d.   - 63C Am. Jur. 2d, Public Officers and Employees, §§ 253, 262, 378, 383, 414.   ALR.    - Relation as creditor of contracting party as constituting interest within statute or rule of common law against public officer being interested in contract with the public, 73 A.L.R. 1352.    Relationship as disqualifying interest within statute making it unlawful for an officer to be interested in a public contract, 74 A.L.R. 792.    Member of governmental board voting on measure involving his personal interest, 133 A.L.R. 1257.    Public officer's relation to corporation as officer or stockholder as constituting interest within statute or rule of common law against public officer being interested in contract public, 140 A.L.R. 344.