2006 Nebraska Revised Statutes - § 58-316 — Authority; member or employee; conflict of interest; disclosure.
Section 58-316Authority; member or employee; conflict of interest; disclosure.
Any member or employee of the authority who has, will have, or later acquires an interest, direct or indirect, in any transaction with the authority shall immediately disclose the nature and extent of such interest in writing to the authority as soon as he or she has knowledge of such actual or prospective interest. Such disclosure shall be entered upon the minutes of the authority. Upon such disclosure, such member or employee shall not participate in any action by the authority authorizing such transaction. The fact that a member is also an officer or owner of an organization shall not be deemed to be a direct or indirect interest unless (1) such member has an ownership interest in such organization or (2) the transaction in question does not involve all similar organizations, but involves only the authority and such organization.
Source:
- Laws 1984, LB 1117, § 16
~Reissue Revised Statutes of Nebraska
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