Alaska Statutes 18.55.080 – Members or employees prohibited from acquiring interest in projects
Current as of: 2023 | Check for updates
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Terms Used In Alaska Statutes 18.55.080
- 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.
- property: includes real and personal property. See Alaska Statutes 01.10.060
- writing: includes printing. See Alaska Statutes 01.10.060
A member of the board of directors or employee of the corporation may not acquire an interest, direct or indirect, in a housing or public building project authorized by Alaska Stat. § 18.55.100 – 18.55.290, or in property or a contract for materials or services included or planned to be included in a project authorized by Alaska Stat. § 18.55.100 – 18.55.290. If a member of the board of directors or employee owns or controls an interest, the member or employee shall immediately disclose the interest in writing to the corporation. Failure to make disclosure constitutes misconduct in office.