§ 157-7. Interested commissioners or employees. - North Carolina Statutes

§ 157‑7. Interested commissioners or employees.

No commissioner or employee of an authority shall acquire any interestdirect or indirect in any housing project or in any property included orplanned to be included in any project, nor shall he have any interest direct orindirect in any contract or proposed contract for materials or services to befurnished or used in connection with any housing project. If any commissioneror employee of an authority owns or controls an interest direct or indirect inany property included or planned to be included in any housing project, heshall immediately disclose the same in writing to the authority and suchdisclosure shall be entered upon the minutes of the authority. Failure to sodisclose such interest shall constitute misconduct in office. (1935, c. 456, s. 7.)