§ 45-31-19 - Interest of officers and employees in project area properties.
SECTION 45-31-19
§ 45-31-19 Interest of officers andemployees in project area properties. – No officer or employee of the community or of the agency who in the course ofhis or her duties is required to participate in the formulation of plans orpolicies for the redevelopment of a project area, or to approve those plans orpolicies, shall acquire any interest in any property included within a projectarea within the community. If the officer or employee owns or has any financialinterest, direct or indirect, in any property included within a project area,he or she shall immediately disclose, in writing, the interest to thelegislative body of the community, and the disclosure shall be entered in theminutes of the agency and of the legislative body. Failure to disclose theinterest constitutes misconduct in office. No payment shall be made to anymember or officer of an agency for any property or interest in propertyacquired by the agency from the member or officer, unless the amount of thepayment is fixed by court order in eminent domain proceedings, or unless thepayment is unanimously approved by the legislative body.