12-4-102 - Penalty for unlawful interest.
12-4-102. Penalty for unlawful interest.
Should any person, acting as such officer, committee member, director, or other person referred to in § 12-4-101, be or become directly or unlawfully indirectly interested in any such contract, such person shall forfeit all pay and compensation therefor. Such officer shall be dismissed from such office the officer then occupies, and be ineligible for the same or a similar position for ten (10) years.
[Acts 1869-1870, ch. 92, §§ 2, 3; Shan., §§ 1134, 1135; Code 1932, §§ 1875, 1876; T.C.A. (orig. ed.), § 12-402; Acts 1983, ch. 388, § 5.]