Indiana Code 16-22-8-12. Governing board; conflicts of interest
Current as of: 2023 | Check for updates
|
Other versions
Sec. 12. An individual is not prohibited from serving as a board member if the member:
(2) derives a profit from;
(1) has a pecuniary interest in; or
Terms Used In Indiana Code 16-22-8-12
- board: refers to the board of a municipal corporation created under this chapter. See Indiana Code 16-22-8-2.1
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
a contract or purchase connected with the corporation. However, the member shall disclose the interest or profit in writing to the board. The member shall abstain from voting on any matter that affects the interest or profit.
[Pre-1993 Recodification Citation: 16-12-21-8 part.]
As added by P.L.2-1993, SEC.5. Amended by P.L.184-2005, SEC.15.