For purposes of § 46A-9-85 , a direct benefit from a contract is derived if the director or employee, the spouse of the director or employee, or any other person with whom the director or employee lives and commingles assets: (1) Has more than a five percent ownership interest in an entity that is a party to the contract; (2) Derives income, compensation, or commission directly from the contract or from an entity that is a party to the contract; (3) Acquires real or personal property under the contract; or (4) Serves as a director on the board of a for-profit entity that: (a) Derives income or a commission from the contract; or (b) Acquires real or personal property under the contract. A direct benefit is not derived solely from the value associated with any investment or holdings by a director or employee, the spouse of the director or employee, or any other person with whom the director or employee lives and commingles assets.
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