(a)      Except as provided in subsection (b) of this section, it is unlawful for a county commissioner, during his term of office, to hold, possess, purchase or acquire any share or interest in any agreement or contract made, entered into or concluded with any party or parties, by the county commissioners of his county, in their character and capacity as such commissioners, or to have, receive, enjoy or participate, either directly or indirectly, in any of the benefits, profits or emoluments of any such agreement or contract.

      (b)      The provisions in subsection (a) do not apply in any county that has adopted local ethics laws under §§ 15-804 and 15-805 of the State Government Article, if such laws have been approved by the State Ethics Commission.