State Codes and Statutes

State Codes and Statutes

Statutes > Kentucky > 099-00 > 640

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99.640 Disclosure of interest in property in project area. No officer, employee or consultant of an agency, who in the course of his duties is <br>required to participate in the formulation of plans or policies for the development of a <br>project area, or in the implementation of such plans or policies, shall acquire any interest <br>in any property to be included within a project area. If any such officer, employee or <br>consultant owns or has or seeks to establish a financial interest, directly or indirectly, in <br>any property to be included within such a project area, he shall immediately disclose, in <br>writing, such interest to the board of commissioners of the agency, and such disclosure <br>shall be entered in the minutes of the board of commissioners. Failure to so disclose such <br>interest shall constitute misconduct in office. No payment shall be made to any <br>commissioner or officer of an agency for any property or interest therein acquired by the <br>agency from such commissioner or officer unless such payment is unanimously approved <br>by the price advisory board and board of commissioners at public meetings of said boards <br>subsequent to the meeting at which the interest in property has been disclosed in writing. Effective: June 21, 1974 <br>History: Created 1974 Ky. Acts ch. 131, sec. 7.