If, after an award, a solicitation or award of a contract is determined to be in violation of law, then:
(1) If the person awarded the contract has not acted fraudulently or in bad faith, the contract may be ratified and affirmed by the Chief Procurement Officer, so long as doing so is in the best interests of the state, or the contract may be terminated by the Chief Procurement Officer and the person awarded the contract shall be compensated for the supplies provided or services rendered under the contract prior to termination.
(2) If the person awarded the contract has acted fraudulently or in bad faith, the contract may be declared void by the Chief Procurement Officer or the contract may be ratified and affirmed by the Chief Procurement Officer, so long as the action is in the best interests of the state. A contract ratified and affirmed under this subdivision does not prejudice the state’s right to any available damages.