(20 ILCS 3510/9) (from Ch. 111 1/2, par. 8109)
Sec. 9.
Members or employees of Authority; conflicting relations
or interests.
(a) No member of the Board, officer, agent or employee of the
Authority shall, in his or her own name or in the name of a nominee, be an
officer, director or hold an ownership interest of more than 7.5% in any
person, association, trust, corporation, partnership or other entity which
is, in its own name or in the name of a nominee, a party to a contract or
agreement under this Act upon which the member, officer, agent or employee
may be called upon to act or vote.
(b) With respect to any direct or any indirect interest, other than an
interest prohibited in subsection (a) of this Section, in a contract or
agreement under this Act upon which the member, officer, agent or employee
may be called upon to act or vote, a member of the Board, officer, agent or
employee of the Authority shall disclose the same to the Secretary before
the taking of final action by the Authority concerning such contract or
agreement and shall so disclose the nature and extent of such interest and
his or her acquisition thereof, which disclosures shall be publicly
acknowledged by the Authority and entered upon the minutes of the
Authority. If a member of the Board, officer, agent or employee of the
Authority holds such an interest, then he or she shall refrain from any
further official involvement in regard to such contract or agreement, from
voting on any matter pertaining to such contract or agreement, and from
communicating with other members of the Board and the other officers,
agents and employees of the Authority concerning that contract or
agreement. Notwithstanding any other provision of law, any contract or
agreement entered into in conformity with this subsection (b) shall not be
void or invalid by reason of the interest described in this subsection (b),
nor shall any person so disclosing the interest and refraining from further
official involvement as provided in this subsection (b) be guilty of an
offense, be removed from office, or be subject to any other penalty on
account of such interest.
(c) Any contract or agreement made in violation of subsection (a) or
(b) of this Section shall be null and void.
(Source: P.A. 86-976.)
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