Sec. 32-272. Decisions by regional corporations to approve or reject applications for financial assistance.
Sec. 32-272. Decisions by regional corporations to approve or reject applications for financial assistance. The decision to approve or reject an application for
financial assistance pursuant to the provisions of sections 32-271 to 32-284, inclusive,
shall be made in accordance with procedures established by the regional corporation
and approved by the authority. No member of the board or other governing body of a
regional corporation shall participate in a decision on a project application when (1)
such member is a party to or has a financial interest in such project, or (2) such member's
private employer has a financial interest in such project. Any member who cannot participate in a decision on a project application for such reason shall not be counted as a
member of the board or other governing body for purposes of determining the number
of members required for a majority vote on such application.
(P.A. 92-236, S. 13, 48; June Sp. Sess. P.A. 99-1, S. 30, 51.)
History: June Sp. Sess. P.A. 99-1 provided that decisions re applications for assistance shall be made in accordance
with procedures established by the corporation and approved by the authority, rather than by a majority of the corporation's
directors, and provided that no member of the board or other governing body of a corporation shall participate in a decision
when such member's private employer has a financial interest in the project, effective July 1, 1999.