§ 45-50-5.2 - Interest of members or employees in property.
SECTION 45-50-5.2
§ 45-50-5.2 Interest of members oremployees in property. – No member or employee of an authority shall acquire any direct interest in anyproject or in any property included or planned to be included in any project,nor shall he or she have any direct or indirect interest in any contract orproposed contract for materials or services to be furnished or used inconnection with any project. If any member or employee of an authority owns orcontrols a direct or indirect interest in any property, included or planned tobe included in any project, he or she shall immediately disclose the interest,in writing, to the authority and the disclosure shall be entered upon theminutes of the authority. Failure to disclose the interest constitutesmisconduct in office.