The decision to approve or reject an application for financial assistance pursuant to the provisions of sections 32-271 to 32-284, inclusive, shall be made in accordance with procedures established by the regional corporation and approved by the corporation. No member of the board or other governing body of a regional corporation shall participate in a decision on a project application when (1) such member is a party to or has a financial interest in such project, or (2) such member's private employer has a financial interest in such project. Any member who cannot participate in a decision on a project application for such reason shall not be counted as a member of the board or other governing body for purposes of determining the number of members required for a majority vote on such application.
(P.A. 92-236, S. 13, 48; June Sp. Sess. P.A. 99-1, S. 30, 51; June 12 Sp. Sess. P.A. 12-1, S. 152.)
History: June Sp. Sess. P.A. 99-1 provided that decisions re applications for assistance shall be made in accordance with procedures established by the corporation and approved by the authority, rather than by a majority of the corporation's directors, and provided that no member of the board or other governing body of a corporation shall participate in a decision when such member's private employer has a financial interest in the project, effective July 1, 1999; pursuant to June 12 Sp. Sess. P.A. 12-1, “authority” was changed editorially by the Revisors to “corporation”, effective July 1, 2012.