2006 Kentucky Revised Statutes - .060   Interest in contract with authority by director, officer, or employee.

154.34-060 Interest in contract with authority by director, officer, or employee. (1) No director, officer, or employee of the authority shall be interested, directly or indirectly, or shall be an officer or employee, or have an ownership interest in any firm or corporation interested, directly or indirectly, in any contract with the authority. (2) Should a director, officer, or employee of the authority have an interest in or be an officer or employee of or have an ownership interest in any such firm or corporation, then the director, officer, or employee of the authority shall: (a)  Disclose the interest and the office, employment, or ownership in the firm or corporation; (b)  Refrain from participating in discussions relating to any contract of the firm or corporation with the authority; and (c)  Refrain from voting or otherwise taking action on any contract or proposed contract of the authority with the firm or corporation. (3) If any contract or agreement shall be made in violation of the provisions of this section, it shall be null and void and no action shall be maintained against the authority. Effective: June 24, 2003 History: Created 2003 Ky. Acts ch. 148, sec. 6, effective June 24, 2003. Page 1 of 1