§53-3  Interest in project prohibited;disclosure of interest.  No member or employee of the redevelopment agencyshall acquire any interest, direct or indirect, in any redevelopment project orin any property included or planned to be included in any such project, norshall the member or employee have any interest, direct or indirect, in anycontract or proposed contract, for materials or services to be furnished orused in connection with the project.  If any member or employee owns orcontrols an interest, direct or indirect, in any property included or plannedto be included in any redevelopment project, the member or employee shallimmediately disclose the same in writing to the agency and the disclosure shallbe entered upon the minutes of the agency.  Failure to so disclose the interestshall constitute misconduct sufficient to warrant removal. [L 1949, c 379, ptof §4; am L 1955, c 271, pt of §1(e); RL 1955, §143-4; HRS §53-3; gen ch 1985]