10. Any board member who has a direct or indirect interest in any enterprise that causes his personal interest to conflict with the interest of the agency must, on pain of forfeiture of office, disclose that interest to the board in writing and withdraw from any meeting for the duration of the discussion or the vote on any matter relating to the enterprise in which the member has an interest.
The president and chief executive officer may not, on pain of forfeiture of office, have a direct or indirect interest in an enterprise putting his personal interest in conflict with that of the agency. However, such forfeiture is not incurred if the interest devolves to him by succession or gift, provided he renounces or disposes of it with dispatch.
1997, c. 55, s. 10; 2006, c. 46, s. 5.