154.24.080 Conflicts of interest. - Kentucky Statutes

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154.24-080 Conflicts of interest. (1) No director, officer, or employee of the authority shall be interested, directly or indirectly, or shall be an officer or employee of, or have an ownership interest in,
any firm or corporation interested, directly or indirectly, in any contract with the
authority. (2) Should a director, officer, or employee of the authority have such an interest or be an officer or employee of or have an ownership interest in any such firm or
corporation, then the director, officer, or employee of the authority shall:
(a) Disclose the interest and the office, employment, or ownership in that firm or corporation; (b) Refrain from participation in discussions relating to any contract of the firm or corporation with the authority; and (c) Refrain from voting or otherwise taking action on any contract or proposed contract of the authority with the firm or corporation. (3) If any contract or agreement shall be made in violation of the provisions of this section it shall be null and void and no action shall be maintained against the
authority. Effective: July 15, 1994
History: Amended 1994 Ky. Acts ch. 450, sec. 13, effective July 15, 1994.