100.370. Commissioners or employees of authority, voluntary interest in project prohibited--disclosure of involuntary interest required and participation in action of authority forbidden--violation is
Commissioners or employees of authority, voluntary interest in projectprohibited--disclosure of involuntary interest required andparticipation in action of authority forbidden--violation ismisconduct, office forfeited.
100.370. 1. No commissioner or employee of an authority shallvoluntarily acquire any interest, direct or indirect, in any project or in anyproperty included or planned by the authority to be included in any suchproject, or in any contract or proposed contract in connection with any suchproject.
2. Where the acquisition is not voluntary such commissioner or employeeshall immediately disclose such interest in writing to the authority and suchdisclosure shall be entered upon the minutes of the authority.
3. A commissioner or employee who owns or controls any interest, director indirect, in such property shall not participate in any action by theauthority affecting the property. If any commissioner or employee of theauthority owned or controlled within the preceding two years any interestdirect or indirect, in any property included or planned by the authority to beincluded in any project, he immediately shall disclose such interest inwriting to the authority and such disclosure shall be entered upon the minutesof the authority. Upon such disclosure such commissioner or employee shallnot participate in any action by the authority affecting such property.
4. Any violation of the provisions of sections of this law shallconstitute misconduct in office; and the commissioner shall forfeit forthwithhis office.
(L. 1967 p. 172 § 8)