§ 214 - Members; disqualification - Vermont Statutes

§ 214. Members; disqualification

A member of the authority may not participate in any decision:

(1) Under subchapter 3 of this chapter affecting a local development corporation if the member is a stockholder or member of that corporation;

(2) Upon any insurance contract under subchapter 2 of this chapter or loan under subchapter 5 of this chapter, if the member is a member, director, trustee, employee or officer of; or has any interest direct or indirect in; or owns any stock, bonds or other liabilities issued by or authorized by the prospective mortgagor, mortgagee or tenant;

(3) Upon a bond issue under subchapter 4 of this chapter if the member is an officer or director of a bank or trust company which is a prospective purchaser of the bonds or a prospective trustee under the trust indenture securing the bonds. (Added 1973, No. 197 (Adj. Sess.), § 1; amended 1977, No. 52, § 3, eff. April 22, 1977.)