Neither the members of the board nor any salaried employee of a land bank agency shall
receive any compensation, emolument, or other profit directly or indirectly from the
rental, management, acquisition, sale, demolition, repair, rehabilitation, use, operation,
ownership, or disposition of any lands held by such land bank agency other than the
salaries, expenses, and emoluments provided for in this article. Neither the members
of the board nor any salaried employee of a land bank agency shall own, directly or
indirectly, any legal or equitable interest in or to any lands held by such land bank
agency. In accordance with RSMo § 141.1000, a violation of this section is a felony,
and any person found guilty of violating this section shall be sentenced to a term
of imprisonment of not less than two nor more than five years. The board of a land
bank agency shall adopt supplemental rules and regulations addressing potential conflicts
of interest and ethical guidelines for members of the board and land bank agency employees,
provided that such rules and regulations are not inconsistent with this article or
any other applicable law.
(
Ord. No. 120779, § 1, 9-20-12
)
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