(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.
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