§ 42-34-16. Interest of members of authority.
No member of the authority shall participate in any decision on any contract of insurance in which he or she has any interests, direct or indirect, in any firm, partnership, corporation, or association which would be the mortgagee, whose loan to a local development corporation is insured by the authority, or if he or she has any interest, direct or indirect, in any firm, partnership, corporation, or association which would rent, lease, or otherwise occupy the premises constructed by the local development corporation where the corporation’s mortgage is insured by the authority, or if he or she is a director or officer or otherwise associated with the local development corporation whose mortgage is insured by the authority.
History of Section.P.L. 1958, ch. 91, § 17.
Structure Rhode Island General Laws
Title 42 - State Affairs and Government
Chapter 42-34 - Industrial-Recreational Building Authority
Section 42-34-1. - Creation of authority.
Section 42-34-3. - Credit of state pledged.
Section 42-34-4. - Organization of authority.
Section 42-34-6. - Definitions.
Section 42-34-8. - Permission to lease or rent property after default.
Section 42-34-9. - Mortgage insurance fund: Subrogation.
Section 42-34-10. - Insurance of mortgages.
Section 42-34-11. - Mortgage insurance premiums.
Section 42-34-12. - Authority’s expenses.
Section 42-34-13. - Mortgages eligible for investment.
Section 42-34-14. - Record of accounts.
Section 42-34-15. - Additions to mortgage insurance fund.
Section 42-34-15.1. - Agreement of state.
Section 42-34-16. - Interest of members of authority.