N.Y. Public Authorities Law § 2429-f: Special provisions relating to directors of the agency

§ 2429-f. Special provisions relating to directors of the agency. The

agency may purchase from, sell to, borrow from, loan to, contract with

or otherwise deal with any corporation, trust, association, partnership

or other entity in which any director of the agency has a financial

interest, direct or indirect, provided that (1) such interest is

disclosed to the board prior to the consummation of such transaction,

(2) such disclosure is recorded in the minutes of the agency and (3) no

director having such a financial interest may participate in any

decision affecting such transaction.