2006 New York Code - Members, Officers And Directors.

 
    § 2857. Members, officers and directors. 1. 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.