§ 42-34-16 - Interest of members of authority. - Rhode-island Statutes

State Codes and Statutes

Statutes > Rhode-island > Title-42 > Chapter-42-34 > 42-34-16

SECTION 42-34-16

§ 42-34-16 Interest of members ofauthority. – No member of the authority shall participate in any decision on any contract ofinsurance in which he or she has any interests, direct or indirect, in anyfirm, partnership, corporation, or association which would be the mortgagee,whose loan to a local development corporation is insured by the authority, orif he or she has any interest, direct or indirect, in any firm, partnership,corporation, or association which would rent, lease, or otherwise occupy thepremises constructed by the local development corporation where thecorporation's mortgage is insured by the authority, or if he or she is adirector or officer or otherwise associated with the local developmentcorporation whose mortgage is insured by the authority.

State Codes and Statutes

Statutes > Rhode-island > Title-42 > Chapter-42-34 > 42-34-16

SECTION 42-34-16

§ 42-34-16 Interest of members ofauthority. – No member of the authority shall participate in any decision on any contract ofinsurance in which he or she has any interests, direct or indirect, in anyfirm, partnership, corporation, or association which would be the mortgagee,whose loan to a local development corporation is insured by the authority, orif he or she has any interest, direct or indirect, in any firm, partnership,corporation, or association which would rent, lease, or otherwise occupy thepremises constructed by the local development corporation where thecorporation's mortgage is insured by the authority, or if he or she is adirector or officer or otherwise associated with the local developmentcorporation whose mortgage is insured by the authority.

State Codes and Statutes

Back To Homepage

State Codes and Statutes

Statutes > Rhode-island > Title-42 > Chapter-42-34 > 42-34-16

SECTION 42-34-16

§ 42-34-16 Interest of members ofauthority. – No member of the authority shall participate in any decision on any contract ofinsurance in which he or she has any interests, direct or indirect, in anyfirm, partnership, corporation, or association which would be the mortgagee,whose loan to a local development corporation is insured by the authority, orif he or she has any interest, direct or indirect, in any firm, partnership,corporation, or association which would rent, lease, or otherwise occupy thepremises constructed by the local development corporation where thecorporation's mortgage is insured by the authority, or if he or she is adirector or officer or otherwise associated with the local developmentcorporation whose mortgage is insured by the authority.