§ 42-116-9 - Ethics.
SECTION 42-116-9
§ 42-116-9 Ethics. – (a) Each director, officer and employee of the corporation is deemed to be anemployee of the governor for purposes of Executive Order No. 91-1, datedJanuary 1, 1991, as amended from time to time, and for the purposes of theRhode Island Code of Ethics in Government, §§ 36-14-4 – 36-14-7.
(b) To the extent that the rules established under thissubsection conflict with the rules of other agencies or governmentcorporations, officers, directors and employees of the corporation, who arealso subject to the conflict of interest or ethical rules of another agency orgovernment corporation, are governed by the rules and regulations establishedby the corporation under this subsection when acting for or on behalf of thecorporation.
(c) If any director, officer, or employee of the corporationis interested either directly or indirectly, or is a director, officer, oremployee of or has an ownership interest (other than as the owner of less thanone percent (1%) of the shares of a publicly-held corporation) in any firm orcorporation interested directly or indirectly in any contract with thecorporation, that interest shall be disclosed to the corporation and set forthin the minutes of the corporation, and the director, officer, or employeehaving that interest shall not participate on behalf of the corporation in theauthorization of any contract. Interested directors may be counted indetermining the presence of a quorum at a meeting of the board of directors ofthe corporation, which authorizes the contract or transaction.