Indiana § 36-7-23-41 Nonparticipation of director or employer with conflicting interest

Indiana Statutes

§ 36-7-23-41 — Nonparticipation of director or employer with conflicting interest

Indiana·Title 36 LOCAL GOVERNMENT·Art. 7 PLANNING AND DEVELOPMENT·Ch. 23 Multiple County Infrastructure Authority

A disclosure under section 40 of this chapter
shall be announced at the first meeting of the board following the
disclosure and entered upon the minutes of that meeting. Upon
disclosure, the member or employee shall not participate in an action
by the board or authority authorizing the transaction. However, an
interest described under section 40 of this chapter does not invalidate
an action by the board or authority with the participation of the
disclosing member before the time when the member became aware of
the interest or should reasonably have become aware of the interest.

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A disclosure under section 40 of this chapter
shall be announced at the first meeting of the board following the
disclosure and entered upon the minutes of that meeting. Upon
disclosure, the member or employee shall not participate in an action
by the board or authority authorizing the transaction. However, an
interest described under section 40 of this chapter does not invalidate
an action by the board or authority with the participation of the
disclosing member before the time when the member became aware of
the interest or should reasonably have become aware of the interest.

Indiana § 36-7-23-41 (Nonparticipation of director or employer with conflicting interest) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.