1. Except as otherwise provided in this section and NRS 218A.970 , 281A.430 and 332.800 , the following persons shall not, in any manner, directly or indirectly, receive any commission, personal profit or compensation of any kind resulting from any contract or other significant transaction in which the employing state, county, municipality, township, district or quasi-municipal corporation is in any way directly interested or affected: (a) State, county, municipal, district and township officers of the State of Nevada; (b) Deputies and employees of state, county, municipal, district and township officers; and (c) Officers and employees of quasi-municipal corporations. 2. A member of any board, commission or similar body who is engaged in the profession, occupation or business regulated by the board, commission or body may, in the ordinary course of his or her business, bid on or enter into a contract with any governmental agency, except the board, commission or body of which he or she is a member, if the member has not taken part in developing the contract plans or specifications and the member will not be personally involved in opening, considering or accepting offers. 3. A full- or part-time faculty member or employee of the Nevada System of Higher Education may bid on or enter into a contract with a governmental agency, or may benefit financially or otherwise from a contract between a governmental agency and a private entity, if the contract complies with the policies established by the Board of Regents of the University of Nevada pursuant to NRS 396.255 . 4. A public officer or employee, other than an officer or employee described in subsection 2 or 3, may bid on or enter into a contract with a governmental agency if the contracting process is controlled by rules of open competitive bidding, the sources of supply are limited, the public officer or employee has not taken part in developing the contract plans or specifications and the public officer or employee will not be personally involved in opening, considering or accepting offers. If a public officer who is authorized to bid on or enter into a contract with a governmental agency pursuant to this subsection is a member of the governing body of the agency, the public officer, pursuant to the requirements of NRS 281A.420 , shall disclose his or her interest in the contract and shall not vote on or advocate the approval of the contract. 5. A person who violates any of the provisions of this section shall be punished as provided in NRS 197.230 and: (a) Where the commission, personal profit or compensation is $650 or more, for a category D felony as provided in NRS 193.130 . (b) Where the commission, personal profit or compensation is less than $650, for a misdemeanor. 6. A person who violates the provisions of this section shall pay any commission, personal profit or compensation resulting from the contract or transaction to the employing state, county, municipality, township, district or quasi-municipal corporation as restitution.
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