Oklahoma § 62-857 - Conflict of interest - Disclosure

§ 62-857. Conflict of interest - Disclosure

A. If any member of the governing body of a city, town or

county which is in the process of adopting a project plan for a

district or which has adopted such a plan pursuant to the provisions

of the Local Development Act or if any member of the governing body

of a taxing entity within the boundaries of a district or any person

who is a member of the immediate family of such member, owns or

controls a financial interest, direct or indirect, in any property

in any project area to be acquired or developed with public

financial assistance, said member shall disclose the same in writing

to the clerk of the city, town or county with such disclosure

entered into the minutes of the governing body. Any such member

with any interest of ten percent (10%) or more or any such member

with an immediate family member with any interest of ten percent

(10%) or more shall be ineligible to vote on any matter or

transaction pertaining to such property, and shall refrain from

taking any other official action related to such property. This

section shall not preclude acquisition of a residence, acquisition

of any property after issuance of a certificate of completion, or

agreement to develop in accordance with the objectives of such

project plan, provided such member discloses any actual or

prospective interest and does not participate in any official action

approving such agreement.

B. For purposes of this act and unless otherwise provided

therein, any matter requiring a vote by the governing body of a

city, town or county or a governing body of a taxing entity within

the district shall be by a majority of those eligible to vote.

Added by Laws 1992, c. 342, § 8. Amended by Laws 2005, c. 210, § 4,

emerg. eff. May 23, 2005; Laws 2008, c. 367, § 2, eff. Nov. 1, 2008.