New Jersey § 52:27d-55

§ 52:27d-55.

(a) Neither the commissioner nor any officer or employee of the department shall acquire

or hold any interest, direct or indirect, in any urban renewal project assisted pursuant

to this act or in any property included therein, nor retain any interest, direct or

indirect, in any property acquired prior to his appointment or employment which is

later included, or to his knowledge planned to be included, in any such State-assisted

urban renewal project. Neither the commissioner nor any officer or employee of the department shall acquire

or hold or retain any interest, direct or indirect, in any contract or proposed contract

for the provision of materials or services to be furnished or used in connection with

any such State-assisted urban renewal project. (b) Where any officer or employee of the department other than the commissioner shall

hold any interest, direct or indirect, in any such State-assisted urban renewal project

as described in subsection (a) of this section, the said officer or employee, upon

learning of any application or intent to make application, shall report the said interest

in writing to the commissioner and the same shall be entered into the official record

of the department, and the said officer or employee shall be relieved of any duties

relating to the said project until the said officer or employee has disposed of such

interest. If the commissioner shall hold any such interest, direct or indirect, the same shall

be reported in writing to the Governor, entered upon the official records of the department

and the commissioner shall dispose of the said interest prior to the issuance of any

commitment, the execution of any contract, or the payment of any advance pursuant

to this act.