KRS 164.367: Governing board may permit its employees to have an interest in a

contract between the institution and a business -- Regulations to be forwarded

to the Legislative Research Commission.

(1) For the purposes of this section, "business" has the same mean ing as defined in

KRS 11A.010.

(2) The governing board of each public postsecondary education institution may adopt

regulations establishing the conditions under which and the procedures whereby the

board may approve a specific instance of an employee havi ng an interest in a

contract between the institution and a business.

(3) Each governing board shall forward, as soon as is practicable, a copy of the

regulations it adopts under provisions of this section to the Legislative Research

Commission. A board sha ll also forward any subsequent changes to the regulations

to the Commission.