California Health and Safety Code

§ 50905

HSC § 50905 Effective Jan 1, 2012Div. 31 · Part 3 · Ch. 1

Statute text

(a)An officer or employee of the agency shall not be employed by, hold any paid official relation to, or have any financial interest in, any housing sponsor or any affordable housing financed or assisted under this part, provided that this prohibition shall not apply to a member of the board of directors who is not an employee of the agency. Real property to which a member of the board or employee of the agency holds legal title or in which the person has any financial interest shall not be purchased by the agency or sold by the member of the board or employee of the agency to a housing sponsor for affordable housing to be financed under this part. Any violation of this section shall be a conflict of interest that shall be grounds for disqualification of the member from the board or employee of the agency from his or her employment with the board or agency.

(b)Except as provided by subdivision (c), the following actions shall be voidable in the discretion of the agency:

(1)Any purchase by the agency of real property in which a member of the board or employee of the agency has legal title or a financial interest.

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Legislative history

Amended by Stats. 2011, Ch. 408, Sec. 2. (AB 1222) Effective January 1, 2012.