Indiana Code Title 5. State and Local Administration § 5-1.2-3-9

Sec. 9. Any member or employee of the authority who has, will have, or later acquires an interest, direct or indirect, in any transaction with the authority shall immediately disclose the nature and extent of the interest in writing to the authority as soon as the member or employee has knowledge of the actual or prospective interest.  The disclosure shall be announced in an open meeting and entered in the minutes of the authority.  Upon disclosure, the member or employee shall not participate in any action by the authority authorizing the transaction.  An interest shall not invalidate actions by the authority with the participation of the disclosing member before the time when the member became aware of the interest or should reasonably have become aware of the interest.