Okla. Stat. tit. 11, § 11-8-113

Exceptions - Definitions - Violations - Employees of financial

institutions.

A. Except as otherwise provided by this section, no municipal

officer or employee, or any business in which the officer, employee,

or spouse of the officer or employee has a proprietary interest,

shall engage in:

1. Selling, buying, or leasing property, real or personal, to

or from the municipality;

2. Contracting with the municipality; or

3. Buying or bartering for or otherwise engaging in any manner

in the acquisition of any bonds, warrants, or other evidence of

indebtedness of the municipality.

B. The provisions of this section shall not apply to any

officer or employee of any municipality of this state with a

population of not more than five thousand (5,000) according to the

latest Federal Decennial Census, who has a proprietary interest in a

business which is the only business of that type within five (5)

miles of the corporate limits of the municipality. However, any

activities permitted by this subsection shall not exceed Two

Thousand Five Hundred Dollars ($2,500.00) for any single activity

and shall not exceed Fifteen Thousand Dollars ($15,000.00) for all

activities in any calendar year. Provided, however, such activity

may exceed Fifteen Thousand Dollars ($15,000.00) per year if the

municipality purchases items therefrom that are regularly sold to

the general public in the normal course of business and the price

charged to the municipality by the business does not exceed the

price charged to the general public.

C. Provisions of this section shall not apply where competitive

bids were obtained consistent with municipal ordinance or state law

and two or more bids were submitted for the materials, supplies, or

services to be procured by the municipality regardless of the

population restrictions of subsection B of this section, provided

the notice of bids was made public and open to all potential

bidders.

D. All bids, both successful and unsuccessful, and all

contracts and required bonds shall be placed on file and maintained

in the main office of the awarding municipality for a period of five

(5) years from the date of opening of bids or for a period of three

(3) years from the date of completion of the contract, whichever is

longer, shall be open to public inspection and shall be matters of

public record.

E. For purposes of this section, “employee” means any person

who is employed by a municipality more than ten (10) hours in a week

for more than thirteen (13) consecutive weeks and who enters into,

recommends or participates in the decision to enter into any

transaction described in subsection A of this section. Any person

Oklahoma Statutes - Title 11. Cities and Towns Page 45

who receives wages, reimbursement for expenses, or emoluments of any

kind from a municipality, any spouse of the person, or any business

in which the person or spouse has a proprietary interest shall not

buy or otherwise become interested in the transfer of any surplus

property of a municipality or a public trust of which the

municipality is beneficiary unless the surplus property is offered

for sale to the public after notice of the sale is published.

F. For purposes of this section, “proprietary interest” means

ownership of more than twenty-five percent (25%) of the business or

of the stock therein or any percentage which constitutes a

controlling interest but shall not include any interest held by a

blind trust.

G. Any person convicted of violating the provisions of this

section shall be guilty of a misdemeanor. Any transaction entered

into in violation of the provisions of this section is void. Any

member of a governing body who approves any transaction in violation

of the provisions of this section shall be held personally liable

for the amount of the transaction.

H. Notwithstanding the provisions of this section, any officer,

director or employee of a financial institution may serve on a board
r. Any transaction entered

into in violation of the provisions of this section is void. Any

member of a governing body who approves any transaction in violation

of the provisions of this section shall be held personally liable

for the amount of the transaction.

H. Notwithstanding the provisions of this section, any officer,

director or employee of a financial institution may serve on a board

of a public body. Provided, the member shall abstain from voting on

any matter relating to a transaction between or involving the

financial institution in which they are associated and the public

body in which they serve.