1998 Florida Code
TITLE XVI EDUCATION
Chapter 240 Postsecondary Education
PART IV SCHOLARSHIP AND FINANCIAL AID (ss. 240.40-240.4989)
240.495 Conflicts of interest.
240.495 Conflicts of interest.--
(1) If any member, officer, or employee of an authority has an interest, either direct or indirect, in any contract to which the authority is, or is to be, a party or in any institution requesting an authority loan from the authority, such interest shall be disclosed to the authority in writing and shall be set forth in the minutes of the authority. The person having such interest shall not participate in any action by the authority with respect to such contract or such institution.
(2) Nothing in this section shall be construed to limit the right of any member, officer, or employee of an authority to acquire an interest in bonds of the authority or to have an interest in any banking institution in which the bonds of the authority are, or are to be, deposited or which is, or is to be, acting as trustee or paying agent under any bond resolution, trust indenture, or similar instrument to which the authority is a party.
History.--s. 26, ch. 82-241.
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