Texas Attorney General Opinion: JM-817 Page: 1 of 4
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THE ATTORNEY GENERAL
OF TEXAS
Ji MAATTrox October 28, 1987
ATTORNEY GENERAL
Mr. Robert J. Provan Opinion No. JM-817
General Counsel
Stephen F. Austin Re: Whether a state univer-
State University sity may contract with a
P. O. Box 6214 corporation in which the
Nacogdoches, Texas 75962 spouse of a regent owns a
substantial interest
Dear Mr. Provan:
You state that Stephen F. Austin State University has
purchased the products of a close corporation. A person
recently appointed to the Board of Regents owns a .2%
interest of the firm's equity without a voting interest.
Her husband owns over 6% of the firm's equity and controls
over 12% of its voting interest. He is an employee of the
firm and serves as chairman of the board of directors, but
does not hold an elected office in the firm. You moreover
inform us that the new regent's spouse acquired his
interest in the corporation prior to the marriage and that
he asserts that his ownership interest is his separate
property.
You finally inform us that:
[T]he purchases by SFA of the firm' s
products in the past have not been of the
kind that required the action or approval of
the Board of Regents. None of the purchases
were submitted to the Board of Regents in
the past. So far as can be determined at
this time, none of the prospective purchases
of the firm's products during the new
regent's term will require the action or
approval of the Board of Regents.
You ask whether an unlawful conflict of interest
exists if the university purchases the products of the
close corporation under the facts and circumstances you
have outlined.p. 3875
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Texas. Attorney-General's Office. Texas Attorney General Opinion: JM-817, text, October 28, 1987; (https://texashistory.unt.edu/ark:/67531/metapth273255/m1/1/: accessed April 26, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.