Ed. Code, § 72678 · Article 6. Auxiliary Organizations
Ed. Code, § 72678
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
No contract or other transaction entered into by the board of directors of an auxiliary organization is void under the provisions of Section 72677; nor shall any member of such board be disqualified or deemed guilty of misconduct in office under such provisions, if both of the following conditions are met:
(a) The fact of such financial interest is disclosed or known to the board of directors and noted in the minutes, and the board thereafter authorizes, approves, or ratifies the contract or transaction in good faith by a vote sufficient for the purpose without counting the vote or votes of such financially interested member or members.
(b) The contract or transaction is just and reasonable as to the auxiliary organization at the time it is authorized or approved.
Notes and commentary — not statutory text
History
Added by Stats. 1980, Ch. 858, Sec. 2. Effective August 31, 1980.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=EDC§ionNum=72678.
- Text hash
- sha256 9b877afc33bc09d9b10a84effe6da30a948e57a8e0320fcfbfbefa71143ef2c6
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- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
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