SDCL § 3-23-7: Officials with contract authority--Description of direct benefit from contract.

A person described in § 3-23-6 derives a direct benefit from a contract if the person, the person's spouse, or any other person with whom the person lives and commingles assets:

(1) Is a party to or intended beneficiary of any contract held by the school district or cooperative education service unit;

(2) Has more than a five percent ownership interest in an entity that is a party to any contract held by the school district or cooperative education service unit;

(3) Acquires property under the contract; or

(4) Will receive compensation, commission, promotion, or other monetary benefit directly attributable to any contract with the school district or cooperative education service unit.