§ 36-12.1-23 - Improper interest in investments of board.
SECTION 36-12.1-23
§ 36-12.1-23 Improper interest ininvestments of board. – Except as herein provided, no member of the OPEB Board and no employee of theOPEB Board shall have any interest, direct or indirect, in the gains or profitsof any investment made by the OPEB Board, nor as such directly or indirectlyreceive any pay or emolument for his or her services. No member of the OPEBBoard or employee of the OPEB Board shall, directly or indirectly, for himselfor herself or as an agent, in any manner use the gains or profits, except tomake such current and necessary payments as are authorized by the OPEB Board;nor shall any member or employee of the OPEB Board become an endorser or suretyor become in any manner an obligor for money loaned or borrowed from the OPEBBoard. No member of the OPEB Board shall permit the OPEB System to engage in atransaction that constitutes a sale or exchange, or leasing, of any propertybetween the OPEB System and a party in interest; a lending of money or otherextension of credit between the OPEB System and a party in interest; furnishingof goods, services, or facilities between the OPEB System and a party ininterest; transfer to, or use by or for the benefit of, a party in interest, ofany assets of the OPEB System.