§ 15.2-7505 Financial interests of board members and employees prohibited
A. No member of the board or employee of the land bank entity shall acquire any interest, direct or indirect, in real property of the land bank entity, in any real property to be acquired by the land bank entity, or in any real property to be acquired from the land bank entity.
B. With regard to any contract or proposed contract for materials or services to be furnished to or used by a land bank entity, members of the board and employees of a land bank entity are subject to the provisions of the State and Local Government Conflict of Interests Act (§ 2.2-3100 et seq.).
C. The board may adopt supplemental rules and regulations addressing potential conflicts of interest and ethical guidelines for members of the board and employees of the land bank entity.
History
This law was first created in 2016. The record of its establishment is cataloged in chapters 159 and 383 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 1 time. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. That modification is as follows: in 2020, chapter 148.
2016, cc. 159, 383; 2020, c. 148.