Opinion No.

Lu Hardin, President University of Central Arkansas 201 Donaghey Avenue Conway, AR 72035-3001

Dear President Hardin:

You have presented the following questions for my opinion:(1) Does a member of the Board of Trustees who owns shares of stock in a financial institution (or a holding company owning such financial institution) that is awarded the banking services business pursuant to a sealed, competitive bid, "become interested, either directly or indirectly, in any contract made by the board" under A.C.A. § 6-67-102(f)(1)?(2) If the answer to Question 1 is "yes," is there a percentage ownership…