New York Consolidated Laws, Mental Hygiene Law - MHY § 41.46 Disclosure by members, officers and employees
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In the event that an agency licensed by the office for people with developmental disabilities, the office of mental health or the office of alcoholism and substance abuse services enters into an agreement or has entered into an agreement for the purchase, lease, rehabilitation or improvement of real property or a cooperative share in real property, any employee who receives an annual salary in excess of thirty thousand dollars, or any board member, or officer of such agency who has a direct or indirect interest either financial or beneficial in such property including the interest of any person for whom he or she is related by consanguinity or affinity, shall disclose such interest prior to the making of such agreement or at the time of acquisition of such interest. Disclosure pursuant to this section shall be made in writing to the board of directors of such agency and shall indicate the material facts as to the member's, officer's, employee's or relative's interest in such property or cooperative share. Such disclosure shall be filed with the secretary of the corporation and entered on the minutes of a meeting of the board. Such disclosure shall also be forwarded in writing to the appropriate commissioner and to the director of community services of the local governmental unit within which the property or cooperative share is located prior to the approval of public funding related to the property or cooperative share which is the subject of disclosure made pursuant to this section or at the time of the acquisition of such interest, whichever occurs later.
Cite this article: FindLaw.com - New York Consolidated Laws, Mental Hygiene Law - MHY § 41.46 Disclosure by members, officers and employees - last updated January 01, 2021 | https://codes.findlaw.com/ny/mental-hygiene-law/mhy-sect-41-46/
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