Section 4-5-14.1 - Exceptions to section 4-5-14The provisions of §§ 4-5-14 and 4-5-14.1, inclusive, do not prohibit a transaction that:
(1) Affects the public generally, and the council member's personal interest is only affected by virtue of being a member of the general public; or(2) Affects participants in the South Dakota Retirement System generally, and the council member's personal interest is only affected by virtue of being a participant in the South Dakota Retirement System; or(3) Involves the acceptance of deposits under a statewide certificate of deposit program made generally available to South Dakota financial institutions or the sale of interests in the South Dakota Higher Education Savings Program authorized pursuant to chapter 13-63 even though the council member has an interest as a principal, shareholder, trustee, director, officer, employee, independent contractor, or advisor of a financial institution or firm that would accept such deposits or sell such interests, if the council member has disclosed such interest in such financial institution or firm to the council.