Illinois Administrative Code
Title 44 - GOVERNMENT CONTRACTS, GRANTMAKING, PROCUREMENT AND PROPERTY MANAGEMENT
Part 1300 - ATTORNEY GENERAL'S PROCUREMENT
Subpart P - ETHICS
Section 1300.5013 - Conflicts of Interest

Universal Citation: 44 IL Admin Code ยง 1300.5013

Current through Register Vol. 48, No. 38, September 20, 2024

a) An individual has a direct pecuniary interest in a contract when the individual is owed a payment in conjunction with performance of a contract, including, but not limited to, finder's fees and commission payments.

b) Distributable income means the amount of income actually distributed to those entitled to receive a share of such income after a company has paid all expenses, including employee salary and bonuses, and retained earnings.

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.)

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