§ 1147-v. Code of ethics. 1. Definition. As used in this section the
term "authority employee" shall mean any member, officer or employee of
the authority.

2. Rule with respect to conflicts of interest. No authority employee
should have any interest, financial or otherwise, direct or indirect, or
engage in any business or transaction or professional activity or incur
any obligation of any nature, which is in substantial conflict with the
proper discharge of his or her duties in the public interest.

3. Standards. a. No authority employee should accept other employment
which will impair his or her independence of judgment in the exercise of
his or her official duties.

b. No authority employee should accept employment or engage in any
business or professional activity which will require the employee to
disclose confidential information which he or she has gained by reason
of his or her official position or authority.

c. No authority employee should disclose confidential information
acquired by the employee in the course of his or her official duties nor
use such information to further his or her personal interests.

d. No authority employee should use or attempt to use his or her
official position to secure unwarranted privileges or exemptions for
himself or herself or others.

e. No authority employee should engage in any transaction as
representative or agent of the authority with any business entity in
which he or she has a direct or indirect financial interest that might
reasonably tend to conflict with the proper discharge of his or her
official duties.

f. An authority employee should not by his or her conduct give
reasonable basis for the impression that any person can improperly
influence such employee or unduly enjoy his or her favor in the
performance of his or her official duties, or that he or she is affected
by the kinship, rank, position or influence of any party or person.

g. An authority employee should abstain from making personal
investments in enterprises which he or she has reason to believe may be
directly involved in decisions to be made by the employee or which will
otherwise create substantial conflict between his or her duty in the
public interest and his or her private interest.

h. An authority employee should endeavor to pursue a course of conduct
which will not raise suspicion among the public that he or she is likely
to be engaged in acts that are in violation of his or her trust.

i. No authority employee employed on a full-time basis nor any firm or
association of which such an employee is a member nor corporation a
substantial portion of the stock of which is owned or controlled
directly or indirectly by such employee, should sell goods or services
to any person, firm, corporation or association which is licensed or
whose rates are fixed by the authority in which such employee serves or
is employed.

j. If any authority employee shall have a financial interest, direct
or indirect, having a value of ten thousand dollars or more in any
activity which is subject to the jurisdiction of a regulatory agency, he
or she should file with the secretary of state a written statement that
he or she has such a financial interest in such activity which statement
shall be open to public inspection.

4. Violations. In addition to any penalty contained in any other
provision of law any such authority employee who shall knowingly and
intentionally violate any of the provisions of this section may be
fined, suspended or removed from office or employment.