Section 11-70-304 - Limitations on board members and executive director(1) As used in this section: (a) "Direct financial benefit": (i) means any form of financial benefit that accrues to an individual directly, including: (A) compensation, commission, or any other form of a payment or increase of money; and(B) an increase in the value of a business or property; and(ii) does not include a financial benefit that accrues to the public generally.(b) "Family member" means a parent, spouse, sibling, child, or grandchild.(2) An individual may not serve as a member of the board or as executive director if:(a) the individual owns real property, other than a personal residence in which the individual resides, within the fairpark district boundary, whether or not the ownership interest is a recorded interest;(b) a family member of the individual owns an interest in real property, other than a personal residence in which the family member resides, located within the fairpark district boundary; or(c) the individual or a family member of the individual owns an interest in, is directly affiliated with, or is an employee or officer of a private firm, private company, or other private entity that the individual reasonably believes is likely to: (i) participate in or receive a direct financial benefit from the development of land within the fairpark district boundary; or(ii) acquire an interest in or locate a facility within the fairpark district boundary.(3) Before taking office as a board member or accepting employment as executive director, an individual shall submit to the fairpark district a statement verifying that the individual's service as a board member or employment as executive director does not violate Subsection (2).(4)(a) An individual may not, at any time during the individual's service as a board member or employment with the fairpark district, acquire, or take any action to initiate, negotiate, or otherwise arrange for the acquisition of, an interest in real property located within the fairpark district boundary, if: (i) the acquisition is in the individual's personal capacity or in the individual's capacity as an employee or officer of a private firm, private company, or other private entity; and(ii) the acquisition will enable the individual to receive a direct financial benefit as a result of the development of land within the fairpark district boundary.(b) Subsection (4)(a) does not apply to an individual's acquisition of, or action to initiate, negotiate, or otherwise arrange for the acquisition of, an interest in real property that is a personal residence in which the individual will reside upon acquisition of the real property.(5)(a) A board member or an employee of the fairpark district may not receive a direct financial benefit from development within the fairpark district boundary.(b) For purposes of Subsection (5)(a), a direct financial benefit does not include:(i) expense reimbursements;(ii) per diem pay for board member service, if applicable; or(iii) an employee's compensation or benefits from employment with the fairpark district.(6) Nothing in this section may be construed to affect the application or effect of any other code provision applicable to a board member or employee relating to ethics or conflicts of interest.Added by Chapter 419, 2024 General Session ,§ 25, eff. 5/1/2024.