N.Y. Public Authorities Law 888 – Interest in claims and contracts prohibited
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§ 888. Interest in claims and contracts prohibited. No member, officer, agent or employee of the authority shall be interested, directly or indirectly, in any claim against or contract with the authority except for lawful compensation and reimbursement for actual and necessary expenses incurred in the performance of official duties; provided that any such member, officer, agent or employee may, as a grower or dealer, lease from the authority a stall, store or other facility upon a market and may engage in such transactions with the authority as are reasonably and ordinarily incidental to such leasing.
Terms Used In N.Y. Public Authorities Law 888
- authority: shall mean the corporation created by section eight hundred seventy-eight of this title. See N.Y. Public Authorities Law 876
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC