§ 63A-21. Conflicts of interest. - North Carolina Statutes

§63A‑21.  Conflicts of interest.

If any member, officer, oremployee of the Authority shall be interested either directly or indirectly, orshall be an officer or employee of or have an ownership interest in any firm orcorporation, not including units of local government, interested directly orindirectly, in any contract with the Authority, the interest shall be disclosedto the Board and shall be set forth in the minutes of the Board.  The member,officer, or employee having an interest shall not participate on behalf of theAuthority in the authorization of any contract.  Other provisions of lawnotwithstanding, failure to take any or all actions necessary to carry out thepurposes of this section may not affect the validity of any bonds or notes issuedunder this Chapter.  (1991, c. 749, s. 1.)