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A System Component may not enter into a contract with an individual or business entity that requires an action or vote by the Board of Regents or that has a value of at least $1 million, unless the business entity submits a disclosure of interested parties at the time the individual or business entity submits the signed contract to the Component. The Board will not approve any contract that is not accompanied by such disclosure statement and a representation by the Component that such statement was timely submitted to the Texas Ethics Commission as required by law.

12.1 Contracts Exempted.

This Paragraph 12 does not apply to a sponsored research contract, an interagency contract, or a contract related to health and human services if the value of the contract cannot be determined at the time the contract is executed and any qualified vendor is eligible for the contract.

12.2 Disclosure Form.

The disclosure of interested parties must be submitted on a form prescribed by the Texas Ethics Commission and shall include:

(1) A list of each interested party for the contract of which the contracting business entity is aware; and

(2) The signature of the authorized agent of the contracting business entity, acknowledging that the disclosure is made under oath and under penalty of perjury.

12.3 Submission to Texas Ethics Commission.

The Component shall submit a copy of the disclosure to the Texas Ethics Commission not later than the 30th day following the date the Component receives a disclosure of interested parties required under this Paragraph 12.