State law and University of Arkansas Board of Trustees Policy 330.1 provides that the university shall not, without approval of the Chancellor, enter into a contract with a current or former state employee or any entity in which any current or former state employee holds an ownership interest of ten percent or greater. For more information see the following links http://vcfa.uark.edu/policies/fayetteville/vprs/4040.php, 
https://www.uasys.edu/board-policy/330-1/, and subchapter seven of the state procurement law at http://www.arkansas.gov/dfa/procurement/documents/laws_rules0907.pdf.

Transactions $25,000 and over require additional conflict of interest disclosure as directed by Governor's Executive Order 98-04. Consult Business Affairs for further information.