Section 140.1000

Title X TAXATION AND REVENUE

Chapter 140

Effective - 28 Aug 2024, 2 histories   

  140.1000.  Limitation on board members and agency employees — violation, penalty — conflicts of interest rules. — 1.  No board member or employee of a land bank agency shall receive any compensation, emolument, or other profit directly or indirectly from the rental, management, acquisition, sale, demolition, repair, rehabilitation, use, operation, ownership, or disposition of any lands held by such land bank agency other than the salaries, expenses, and emoluments provided for in the chapter 140 land bank act.

  2.  No member of the board or employee of a land bank agency shall own, directly or indirectly, any legal or equitable interest in or to any lands held by such land bank agency other than the salaries, expenses, and emoluments provided for in sections 140.980 to 140.1015.

  3.  A violation of this section is a class D felony.

  4.  The land bank agency may adopt supplemental rules and regulations addressing potential conflicts of interest and ethical guidelines for board members and land bank agency employees, provided that such rules and regulations are not inconsistent with this chapter or any other applicable law.

  5.  Any person who is related to a board member or employee of a land bank agency within the second degree of consanguinity or affinity shall be considered a board member or employee of a land bank agency for purposes of this section and subject to its provisions.

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(L. 2019 H.B. 821, A.L. 2024 H.B. 2062)