Ill. Admin. Code tit. 44, § 2000.5013 - Conflicts of Interest
a) An
individual has a direct pecuniary interest in a contract when the individual is
owed a payment or otherwise receives a direct financial benefit in conjunction
with performance of a contract, including finders fees and commission
payments.
b) Distributable income
means the income of a company after payment of all expenses, including employee
salary and bonus, and retained earnings, which is distributed to those entitled
to receive a share of such income. In the case of a for-profit corporation,
distributable income means "dividends". When calculating entitlement to
distributable income, the entitlement shall be determined at the end of the
company's most recent fiscal year.
c) This Section does not apply to contracts
with licensed professionals provided such contracts are competitively bid. For
purposes of this Section, "bid" means procured pursuant to the competitive
procedures identified in Subpart E of this Part.
Notes
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