§ 2799-ttt. Conflicts of interest. Eligibility for appointment as a
director, officer or employee of the authority shall be subject to the
provisions of section twenty-eight hundred twenty-five of this chapter.
In addition to the requirements of such section:

1. It shall be a misdemeanor for any member, officer or employee of
the authority to be in any way or manner interested, directly or
indirectly, in the furnishing of work, materials, supplies or labor, or
in any contract therefore which the authority is empowered by this title
to make.

2. If any director, officer or employee of the authority shall have an
interest, either direct or indirect, in any contract to which the
authority is or is to be a party, such interest shall be disclosed to
the authority in writing and shall be set forth in the minutes of the
authority. The director, officer or employee having such interest shall
not participate in any action by the authority with respect to such
contract.

3. No director, officer or employee of the authority shall be deemed
to have such an interest solely by reason of the ownership of two
percent or less of the securities of a corporation which is or is to be
a party to a contract with the authority, including without limitation
the holding company of any banking institution in which the funds of the
authority are, or are to be deposited, or which is or is to be acting as
trustee or paying agent under any bond or note resolution, trust
indenture or similar instrument to which the authority is a party.

4. Nothing in this section shall be deemed or construed to limit the
right of any director, officer or employee of the authority to acquire
an interest in the securities of the authority.