N.Y. General Municipal Law § 801: Conflicts of interest prohibited

§ 801. Conflicts of interest prohibited. Except as provided in section

eight hundred two of this chapter, (1) no municipal officer or employee

shall have an interest in any contract with the municipality of which he

is an officer or employee, when such officer or employee, individually

or as a member of a board, has the power or duty to (a) negotiate,

prepare, authorize or approve the contract or authorize or approve

payment thereunder (b) audit bills or claims under the contract, or (c)

appoint an officer or employee who has any of the powers or duties set

forth above and (2) no chief fiscal officer, treasurer, or his deputy or

employee, shall have an interest in a bank or trust company designated

as a depository, paying agent, registration agent or for investment of

funds of the municipality of which he is an officer or employee. The

provisions of this section shall in no event be construed to preclude

the payment of lawful compensation and necessary expenses of any

municipal officer or employee in one or more positions of public

employment, the holding of which is not prohibited by law.