(1) Disclosure of Benefit Received from Contract. Any employee who has or obtains any benefit from any state contract with a business in which the employee has a financial interest shall report such benefit to the Secretary of the Department of Finance and Administration. However, this section shall not apply to a contract with a business where the employee's interest in the business has been placed in a disclosed blind trust.
(2) Failure to Disclose Benefit Received. Any employee who knows or should have known of such benefit and fails to report the benefit to the secretary is in breach of the ethical standards of this section.