40:37B-9 - Unlawful interest in contracts - New Jersey Statutes

40:37B-9.  Unlawful interest in contracts
    No member, officer or employee of an authority shall have or acquire any interest, direct or indirect, in a public facility of the authority or in any property included or to be included in the holdings of the authority or in any contract or proposed contract for materials or services to be furnished to or used by the authority but neither the holding of any office or employment in the government of any county or municipality nor the owning of any other property within the State shall be deemed a disqualification for membership in or employment by an authority.  A member of an authority may be removed by the governing body of the county for incapacity, inefficiency or neglect of duty or  misconduct in office or other disqualifying cause and after he shall have been  given a copy of the charges against him and, not sooner than 10 days thereafter, been afforded opportunity for a hearing, in person or by counsel, by such governing body with respect to such charges.

     L.1967, c. 136, s. 9, eff. June 28, 1967.