(a) It shall be unlawful for any member or employee of the Authority to transact with the Authority, either directly or indirectly, any business for profit of such member or employee; and any person, firm, or corporation knowingly participating therein shall be equally liable for violation of this provision.
(b) The term “business for profit” shall include, but not be limited to, the acceptance or payment of any fee, commission, gift or consideration to such member or employee.
(c) Violation of any of the provisions of this section shall constitute a felony and shall be punishable by a fine of not less than Five Hundred Dollars ($500.00) and not more than Five Thousand Dollars ($5,000.00), or by imprisonment in the State Penitentiary for not less than one (1) year and not more than five (5) years or by both such fine and imprisonment.
Added by Laws 1959, p. 254, § 12, emerg. eff. June 27, 1959. Amended by Laws 1997, c. 133, § 583, eff. July 1, 1999; Laws 1999, 1st Ex.Sess., c. 5, § 423, eff. July 1, 1999.
NOTE: Laws 1998, 1st Ex.Sess., c. 2, § 23 amended the effective date of Laws 1997, c. 133, § 583 from July 1, 1998, to July 1, 1999.
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