Section 15.322 - Public servant; soliciting, negotiating, renegotiating, approving, or representing a party to a contract with public entity prohibited(1) Except as provided in sections 3 and 3a, a public servant shall not be a party, directly or indirectly, to any contract between himself or herself and the public entity of which he or she is an officer or employee.(2) Except as provided in section 3, a public servant shall not directly or indirectly solicit any contract between the public entity of which he or she is an officer or employee and any of the following:(b) Any firm, meaning a co-partnership or other unincorporated association, of which he or she is a partner, member, or employee.(c) Any private corporation in which he or she is a stockholder owning more than 1% of the total outstanding stock of any class if the stock is not listed on a stock exchange, or stock with a present total market value in excess of $25,000.00 if the stock is listed on a stock exchange or of which he or she is a director, officer, or employee.(d) Any trust of which he or she is a beneficiary or trustee.(3) In regard to a contract described in subsection (2), a public servant shall not do either of the following: (a) Take any part in the negotiations for such a contract or the renegotiation or amendment of the contract, or in the approval of the contract.(b) Represent either party in the transaction.1968, Act 317, Eff. 9/1/1968 ;--Am. 1992, Act 9, Imd. Eff. 3/10/1992 .