KRS 80.470: Members and employees not to hold interest in housing.

No member or employee of an authority shall acquire any interest direct or indirect in any

housing or in any property included or planned to be included in any project, nor shall he

have any interest direct or indirect in any contract or proposed contract for materials or

services to be furnished or used in connection with any housing. If any member or

employee of an authority owns or controls an interest direct or indirect in any property

included or planned to be included in any housing project, he immedi ately shall disclose

the same in writing to the authority and such disclosure shall be entered upon the minutes

of the authority. Failure so to disclose such interest shall constitute misconduct in office.

Upon such disclosure such member or employee shall not participate in any action by the

authority affecting such property.