{"law_id":"776063","section_number":"15.2-7505","catch_line":"Financial interests of board members and employees prohibited","history":"2016, cc. 159, 383.","order_by":null,"metadata":false,"court_decisions":{},"official_url":"http:\/\/law.lis.virginia.gov\/vacode\/15.2-7505\/","refers_to":false,"url":"\/15.2-7505\/","token":"15.2\/IV\/75\/15.2-7505","structure":{"1":{"id":"749","name":"Land Bank Entities Act","identifier":"75","label":"chapter","url":"\/15.2\/IV\/75\/"},"2":{"id":"47","name":"Other Governmental Entities","identifier":"IV","label":"subtitle","url":"\/15.2\/IV\/"},"3":{"id":"46","name":"Counties, Cities And Towns","identifier":"15.2","label":"title","url":"\/15.2\/"}},"referred_to_by":false,"edition_id":"11","section_id":"776063","structure_id":"749","full_text":"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.\r\rB No member of the board or employee of a land bank entity shall have any interest, direct or indirect, in any contract or proposed contract for materials or services to be furnished to or used by a land bank entity.\r\rC 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.\r\r","text":{"0":{"id":"2502397","text":"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.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1},"1":{"id":"2502398","text":"No member of the board or employee of a land bank entity shall have any interest, direct or indirect, in any contract or proposed contract for materials or services to be furnished to or used by a land bank entity.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1},"2":{"id":"2502399","text":"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.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1}},"ancestry":{"1":{"id":"749","name":"Land Bank Entities Act","identifier":"75","label":"chapter","url":"\/15.2\/IV\/75\/"},"2":{"id":"47","name":"Other Governmental Entities","identifier":"IV","label":"subtitle","url":"\/15.2\/IV\/"},"3":{"id":"46","name":"Counties, Cities And Towns","identifier":"15.2","label":"title","url":"\/15.2\/"}},"structure_contents":{"0":{"id":"781184","structure_id":"749","section_number":"15.2-7500","catch_line":"Definitions","url":"\/15.2-7500\/","token":"15.2\/IV\/75\/15.2-7500"},"1":{"id":"787782","structure_id":"749","section_number":"15.2-7501","catch_line":"Creation of land bank entities by localities","url":"\/15.2-7501\/","token":"15.2\/IV\/75\/15.2-7501"},"2":{"id":"787468","structure_id":"749","section_number":"15.2-7502","catch_line":"Public hearing required prior to creation or designation of a land bank entity","url":"\/15.2-7502\/","token":"15.2\/IV\/75\/15.2-7502"},"3":{"id":"776946","structure_id":"749","section_number":"15.2-7503","catch_line":"Board of directors; qualifications; terms; vacancies; compensation and expenses","url":"\/15.2-7503\/","token":"15.2\/IV\/75\/15.2-7503"},"4":{"id":"796363","structure_id":"749","section_number":"15.2-7504","catch_line":"Executive director; staff","url":"\/15.2-7504\/","token":"15.2\/IV\/75\/15.2-7504"},"5":{"id":"776063","structure_id":"749","section_number":"15.2-7505","catch_line":"Financial interests of board members and employees prohibited","url":"\/15.2-7505\/","token":"15.2\/IV\/75\/15.2-7505"},"6":{"id":"768867","structure_id":"749","section_number":"15.2-7506","catch_line":"Powers of land bank entity","url":"\/15.2-7506\/","token":"15.2\/IV\/75\/15.2-7506"},"7":{"id":"781824","structure_id":"749","section_number":"15.2-7507","catch_line":"Acquisition of property","url":"\/15.2-7507\/","token":"15.2\/IV\/75\/15.2-7507"},"8":{"id":"769935","structure_id":"749","section_number":"15.2-7508","catch_line":"Disposition of property","url":"\/15.2-7508\/","token":"15.2\/IV\/75\/15.2-7508"},"9":{"id":"765541","structure_id":"749","section_number":"15.2-7509","catch_line":"Financing of operations","url":"\/15.2-7509\/","token":"15.2\/IV\/75\/15.2-7509"},"10":{"id":"771776","structure_id":"749","section_number":"15.2-7510","catch_line":"Exemption from taxes or assessments","url":"\/15.2-7510\/","token":"15.2\/IV\/75\/15.2-7510"},"11":{"id":"789870","structure_id":"749","section_number":"15.2-7511","catch_line":"Dissolution of land bank entity","url":"\/15.2-7511\/","token":"15.2\/IV\/75\/15.2-7511"},"12":{"id":"791267","structure_id":"749","section_number":"15.2-7512","catch_line":"Designation of existing nonprofit entities to carry out the functions of a land bank entity","url":"\/15.2-7512\/","token":"15.2\/IV\/75\/15.2-7512"}},"previous_section":{"id":"796363","structure_id":"749","section_number":"15.2-7504","catch_line":"Executive director; staff","url":"\/15.2-7504\/","token":"15.2\/IV\/75\/15.2-7504"},"next_section":{"id":"768867","structure_id":"749","section_number":"15.2-7506","catch_line":"Powers of land bank entity","url":"\/15.2-7506\/","token":"15.2\/IV\/75\/15.2-7506"},"references":false,"formats":{"txt":"\/15.2-7505.txt","json":"\/15.2-7505.json","xml":"\/15.2-7505.xml"},"dublin_core":{"Title":"Financial interests of board members and employees prohibited","Type":"Text","Format":"text\/html","Identifier":"\u00a7 15.2-7505","Relation":"Code of Virginia"},"plain_text":"                                 CODE OF VIRGINIA\n\nFINANCIAL INTERESTS OF BOARD MEMBERS AND EMPLOYEES PROHIBITED (\u00a7 15.2-7505)\n\nA. No member of the board or employee of the land bank entity shall acquire any\ninterest, direct or indirect, in real property of the land bank entity, in any\nreal property to be acquired by the land bank entity, or in any real property to\nbe acquired from the land bank entity.\n\nB. No member of the board or employee of a land bank entity shall have any\ninterest, direct or indirect, in any contract or proposed contract for materials\nor services to be furnished to or used by a land bank entity.\n\nC. The board may adopt supplemental rules and regulations addressing potential\nconflicts of interest and ethical guidelines for members of the board and\nemployees of the land bank entity.\n\nHISTORY: 2016, cc. 159, 383."}