Okla. Stat. tit. 70, § 70-5-124

A. Except as otherwise provided in this section, no board of

education of any school district in this state shall make any

contract with any of its members or with any company, individual or

business concern in which any of its members shall be directly or

indirectly interested. All contracts made in violation of this

section shall be wholly void. A member of a board of education

shall be considered to be interested in any contract made with any

company, individual, or any business concern if the member of the

board of education or any member of the immediate family of the

member owns any substantial interest in same.

B. For purposes of this section, the following shall not be

considered the making of a contract:

1. Any contract with a qualified nonprofit Internal Revenue

Code 501(c)(3) organization, except for contracts paying salaries or

expenses or except a contract involving the counseling or

instruction of students or staff;

2. Monthly billings submitted to any school district for public

utility companies, electric cooperatives or telephone companies,

whose services are regulated by the Oklahoma Corporation Commission,

or billings of the utility companies, electric cooperatives or

telephone companies pertaining to installations or changes in

service, where tariffs for the charges or billings by the companies

are on file with the Oklahoma Corporation Commission; and

3. The depositing of any funds in a bank or other depository.

C. 1. The governing board of a technology center school

district may enter into a contract for the technology center school

district to provide training for a company, individual or business

concern by which a member of the board is employed. A board member

shall abstain from voting on any such contract between the

technology center school district board and the company, individual

or business concern by which the member is employed.

2. A board of education may enter into a contract with a

company, individual, or business concern in which a board member or

a member's spouse is employed by or has a substantial interest if

the company, individual, or business concern is the only supplier

Oklahoma Statutes - Title 70. Schools Page 282

having a place of business located within the school district or

within ten (10) miles of the needed services or materials. The

board member shall abstain from voting on any such contract between

the company, individual, or business concern in which that member

has a substantial interest, and the minutes of the board meeting at

which the contract is approved shall state that the contract is

being made because of the lack of another supplier with a place of

business located within the school district.

3. A board of education which has entered into a lease-purchase

agreement, prior to the time a board member which has a substantial

interest in the company, individual, or business concern became a

member of the board of education, may, after the member becomes a

board member, continue to exercise any fiscal year options in the

lease-purchase agreement for renewal of the lease-purchase for the

balance of the contract term. The affected board member shall

abstain from voting on such fiscal year renewal of the continuation

of the lease-purchase agreement.

4. A board of education may enter into a contract with a

company, individual or business concern in which a board member or a

spouse of a member is employed and has no substantial interest if

the school district does not include any part of a municipality with

a population greater than two thousand five hundred (2,500)

according to the latest Federal Decennial Census and the company,

individual or business concern is located in the corporate limits of

a municipality which is in the boundaries of the school district.

D. A board member shall not be considered to be directly or

indirectly interested in any contract with a company, individual, or
with

a population greater than two thousand five hundred (2,500)

according to the latest Federal Decennial Census and the company,

individual or business concern is located in the corporate limits of

a municipality which is in the boundaries of the school district.

D. A board member shall not be considered to be directly or

indirectly interested in any contract with a company, individual, or

business concern that employs such board member or the spouse of the

board member if the board member or the spouse of the board member

has an interest of five percent (5%) or less in the company,

individual, or business concern.