§ 10-3-1312. Violation of disclosure requirements -- Penalties -- Rescission of prohibited transaction.

If a transaction is entered into in connection with a violation of Section 10-3-1305, 10-3-1306, 10-3-1307, or 10-3-1308, the municipality: (1) shall dismiss or remove the officer or municipal employee who knowingly and intentionally violates this part from employment or office; and (2) may rescind or void a contract or subcontract entered into pursuant to that transaction without returning any part of the consideration received by the municipality.