§53-3  Interest in project prohibited;
disclosure of interest.  No member or employee of the redevelopment agency
shall acquire any interest, direct or indirect, in any redevelopment project or
in any property included or planned to be included in any such project, nor
shall the member or employee have any interest, direct or indirect, in any
contract or proposed contract, for materials or services to be furnished or
used in connection with the project.  If any member or employee owns or
controls an interest, direct or indirect, in any property included or planned
to be included in any redevelopment project, the member or employee shall
immediately disclose the same in writing to the agency and the disclosure shall
be entered upon the minutes of the agency.  Failure to so disclose the interest
shall constitute misconduct sufficient to warrant removal. [L 1949, c 379, pt
of §4; am L 1955, c 271, pt of §1(e); RL 1955, §143-4; HRS §53-3; gen ch 1985]