RS 4086 - Board members not to be interested in contracts
No member of the board shall borrow money from any contractor or shall be interested, directly or indirectly, in any contract, or in the losses or profits of any contract for labor, supplies, material or construction made by the board, nor for six months after the termination of his connection with the board, under the penalty of dismissal from the board and the absolute nullity of the contract. No member, officer, or employee of the board shall be surety for any contractor. In case any member of the board is a director or stockholder in any corporation, or is agent for any person, who is financially interested in any subject before the board, he shall not at any meeting of the board or of any of its committees, discuss or vote on the subject.