2006 New York Code - Members, Officers, And Directors.

 
  § 75.15 Members, officers, and directors.
    No  member  or director of a company shall receive any salary or other
  compensation for  services  as  such  member  or  director,  other  than
  reimbursement   of   actual  and  necessary  expenses  incurred  in  the
  performance of his duties. No member, officer, or employee of a  company
  shall  acquire any interest, direct or indirect, in any property then or
  thereafter included or planned to be included in a project,  nor  retain
  any  interest, direct or indirect in any property acquired subsequent to
  his appointment or employment which is later included or planned  to  be
  included  in  a  project.  If  any  member,  officer, or employee of any
  company owns or  controls  an  interest,  direct  or  indirect,  in  any
  property  included  in  a  project,  which  was  acquired  prior  to his
  appointment or employment, he shall disclose such interest and the  date
  of  acquisition  thereof  in  writing to the company and such disclosure
  shall be entered upon the minutes of the company.