A. No trustee, officer or employee of such Public Trust Authority shall be a party either directly or indirectly, to any contract or agreement with such Public Trust Authority from which he or she may derive any personal gain or profit.
B. If any contract or agreement is made in violation of the provisions of this section, the contract or agreement shall be null and void and no action shall be maintained thereon against such Public Trust Authority. Any contract or agreement made in violation of the provisions of this section shall constitute cause for the immediate removal of such member, trustee, officer or employee executing the contract or agreement.
C. This section shall not prohibit any trustee or employee from participating in exhibits at the annual fair and events.
Added by Laws 1970, c. 335, § 5, emerg. eff. April 23, 1970. Amended by Laws 2001, c. 146, § 239, emerg. eff. April 30, 2001. Renumbered from § 157.5 of this title by Laws 2001, c. 146, § 271, emerg. eff. April 30, 2001.