(a) An agent or employee of the Administration or member of the Commission may not:
(1) Contract with the Administration;
(2) Have any direct or indirect interest in a contract with the Administration; or
(3) Have any direct or indirect interest in the sale or purchase by the Administration of any property.
(b) An agent, employee, member, or officer of a local port authority or local port commission may not:
(1) Contract with the authority or commission;
(2) Have any direct or indirect interest in a contract with the authority or commission;
(3) Have any direct or indirect interest in a company that does business with the authority or commission; or
(4) Have any direct or indirect interest in the sale or purchase by the authority or commission of any property.
(c) Any person who violates any provision of this section is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $1,000 or imprisonment not exceeding 1 year or both.