No officer or employee of the community or of the agency who in the course of his or her duties is required to participate in the formulation of plans or policies for the redevelopment of a project area, or to approve those plans or policies, shall acquire any interest in any property included within a project area within the community. If the officer or employee owns or has any financial interest, direct or indirect, in any property included within a project area, he or she shall immediately disclose, in writing, the interest to the legislative body of the community, and the disclosure shall be entered in the minutes of the agency and of the legislative body. Failure to disclose the interest constitutes misconduct in office. No payment shall be made to any member or officer of an agency for any property or interest in property acquired by the agency from the member or officer, unless the amount of the payment is fixed by court order in eminent domain proceedings, or unless the payment is unanimously approved by the legislative body.
History of Section.
P.L. 1956, ch. 3654, § 34; G.L. 1956, § 45-31-19.