§ 214 — Members; disqualification

A member of the Authority may not participate in any decision:
(1) under subchapter 3 of this chapter affecting a local development corporation if the member is a stockholder or member of that corporation;
(2) upon any loan under subchapter 5 of this chapter if the member is a member, director, trustee, employee, or officer of; or has any interest direct or indirect in; or owns any stock, bonds, or other liabilities issued by or authorized by the prospective mortgagor, mortgagee, or tenant;
(3) upon a bond issue under subchapter 4 of this chapter if the member is an officer or director of a bank or trust company that is a prospective purchaser of the bonds or a prospective trustee under the trust indenture securing the bonds. (Added 1973, No. 197 (Adj. Sess.), § 1; amended 1977, No. 52, § 3, eff. April 22, 1977; 2025, No. 26, § 1, eff. July 1, 2025.)