Any member, officer or employee of the bank who is interested either directly or indirectly, or who is an officer or employee of, or has an ownership interest in any firm or agency interested, directly or indirectly, in any contract with the bank, shall disclose this interest to the board. This interest shall be set forth in the minutes of the board, and the member, officer or employee having the interest shall not participate on behalf of the bank in the authorization of any such contract.
Structure Mississippi Code
Title 31 - Public Business, Bonds and Obligations
Chapter 25 - Mississippi Development Bank Act
Article 1 - General Provisions
§ 31-25-3. Legislative intent; construction
§ 31-25-7. Mississippi Development Bank created
§ 31-25-9. Bank's powers vested in board
§ 31-25-11. Quorum for conducting business; per diem compensation; expenses
§ 31-25-15. Disclosure of contractual interest
§ 31-25-17. Acceptance of membership on bank; nonforfeiture of office or employment
§ 31-25-20. Power of bank to loan money to local governmental unit
§ 31-25-21. Power of bank to loan money to local governmental unit
§ 31-25-23. Loans to local governmental units; purchase or sale of municipal securities
§ 31-25-25. Prohibited transactions
§ 31-25-33. Exemption from taxation
§ 31-25-35. Report; audit of books and accounts
§ 31-25-39. Resolution of Board authorizing or relating to issuance of bonds; contracts
§ 31-25-41. Pledge of revenues or other moneys
§ 31-25-43. Establishment of funds or accounts
§ 31-25-45. Purchase of bonds by Bank
§ 31-25-47. Agreements or contracts for safekeeping of municipal bonds or other investments
§ 31-25-49. Reservation of State power